search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraud“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealMarty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoffLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
New York

New building for sale near the High Line

Just a few days since the opening of High Line phase two comes an opportunity for buyers to get in on the High Line action.

CB Richard Ellis is marketing a 200,000-square-foot property at 511-541 West 25th Street, between 10th and 11th avenues, according to Crain’s. Tesla Motors has a showroom in the building.


Darcy Stacom, a vice chairman at CBRE, predicts this new listing will fetch about $500 per square foot.

Sign Up for the undefined Newsletter

“This is a neighborhood that is coming into it own, and this is an opportunity to get it on it,” Stacom said.

Lots of developers have been doing just that. In April, Scott Rechler’s RXR Realty bought the Starrett-Lehigh building at 601 West 26th Street for $900 million after witnessing the continued growth of the West Side.

Google bought 111 Eighth Avenue for about $800 a square foot and a building at 15 Little West 12th Street in the Meatpacking District fetched around $850 a square foot. [Crain’s]

Tags
CBREHigh LineRXRScott Rechler