Former Extell rail yards site on market

April 01, 2011 05:27PM

A parcel of land adjacent to the West Side rail yards that once belonged to Extell Development is back on the market, according to Real Estate Weekly. The seller, lender Barclays, seized the parcel at 350-366 10th Avenue from Extell last August, after the developer defaulted on its $28.8 million loan in 2009. Extell had planned to build a 600,000-square-foot mixed-use tower on the site, which the developer spent more than $40 million to assemble, sources say. The site will be marketed by Robert Knakal of Massey Knakal Realty Services. Although it was not immediately clear what the site’s asking price is, one source said its expect to trade for at least as much as Extell paid for it. [Real Estate Weekly]

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