West 39th St. development site ripe for hotel hits market

A West 39th Street development site that could support a 60-room limited-service hotel has hit the market and is currently taking bids.

The site at 335 West 39th Street, located between Eighth and Ninth avenues, will allow for a 44,437 square-foot-building by combining its current zoning entitlement with extra air rights acquired through the city’s Hudson Yards district improvement bonus.

The site is being marketed by a Newmark Grubb Knight Frank Capital Markets’ team of Kenneth Zakin and Carol Ann Flint on behalf of the seller, a limited-liability company known as 335 West 39th Street Realty Company, according to a release from the brokerage. Bids are due Oct. 23.

Similar sites have traded in the range of $330 per square foot, Zakin told the New York Post. The West 39th Street block that the site lays on currently has five hotels, according to the newspaper. [NYP, 3rd item] – Hiten Samtani