West 28th Street development site hits market

A prime West Chelsea development site could be home to a new hotel, Crain’s reported.

The 12,083-square-foot parcel, which is right now home to a seven-story, mixed-use loft building, also comes with air rights from nearby properties, James Nelson, a partner at Massey Knakal Realty Services, which has been retained exclusively to market the site, told Crain’s.

The buildings at 146-148 West 28th Street and parking lot at 140-144 West 28th Street offer 170,000 feet of buildable space, Crain’s said, and so could make the perfect site for a new hotel, as many other have sprung up in the area of late — such as the Ace Hotel and Hotel Eventi — and New York City seems to be able to absorb an inexhaustible supply of lodging.

The site can be sold all together or cut up and sold separately. It is attracting foreign and domestic investors, Nelson told Crain’s. There is no asking price. [Crain’s]