The Real Deal New York

Bids to develop two Riverside towers due this month

January 11, 2012 09:30AM

Riverside South

Just a handful of bidders remain for 1.35 million of Extell Development and Carlyle Group’s buildable square feet along West End Avenue, and final bids are due by the end of the month. But the New York Post reported that the site is burdened by several major restrictions.

The parcel, named Riverside Center, is located between West 59th and 61st streets, the southernmost part of the massive Riverside South complex. The portion for sale is slated for two residential towers of 43 and 44 stories.

Carlyle and Extell are looking to sell the land so they can unload the onus of meeting affordable housing and community space demands on another buyer, while they focus on three other planned condominiums closer to the Hudson River. The two buildings must include a public school and day care for 45 children, garages with bike racks and car-charging stations and a retail space that includes an auto sales shop.

Nevertheless, bids are due to HFF broker Andrew Scandalios by the end of the month, and the Post named the Related Companies as one of the interested parties, along with several investment trusts. [Post, 1st item]

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