The Real Deal New York

Megalith pays Disney $85M for Upper West Side office trio

Site would allow a 75,000 sf development

April 01, 2014 02:47PM
By Hiten Samtani

From left: Walt Disney's Magic Kingdom in Florida, 40 West 66th Street and Megalith's Sam Sidhu

From left: Walt Disney’s Magic Kingdom in Florida, 40 West 66th Street and Megalith’s Sam Sidhu

This is no Mickey Mouse deal. Megalith Capital Management has paid the Walt Disney Company $85 million for a trio of office buildings on West 66th Street, according to property records filed with the city today.

The sale closed March 4. The properties, located between Central Park West and Columbus Avenue, are 36 West 66th Street, a two-story, 5,130-square-foot building; 38 West 66th Street, a two-story, 4,714-square-foot building; and 40 West 66th Street, a four-story, 6,902-square-foot building. In total, they would allow for a development of about 75,000 square feet.

It is unclear which brokers were involved in the deal. Representatives for Megalith declined to comment, and Walt Disney didn’t immediately reply to requests for comment.

Megalith recently moved its headquarters to New York City from Philadelphia, and specializes in multifamily developments. It is currently working on a 12-story, 105-unit luxury rental building at 177 Front Street, as well as an adjacent 15-unit condominium building at 200 Water Street. The firm is also converting a 30,000-square-foot warehouse in Tribeca into full-floor loft-style apartments.

  • Charlotte Friedman

    Best wishes. Great location.

  • Crawdad

    Fantastic location for residential. They will make huge money.

  • curious

    aren’t these only commercially zoned? can u even make resi?

  • 1Columbus

    I don’t know, curious, but I find it hard to believe that an Upper West Side side-street would be only commercially zoned. That doesn’t make any sense, and there is highrise residential all over the block.

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