Park Avenue South site hits the market

A 20,000-square-foot corner at 400 Park Avenue South at 28th Street, which can support a 420,000-square-foot project, is going on the market via Studley. The site was assembled by developers A & R Kalimian, who were granted approval from the New York City Department of Planning for a “daring” design by French architect Christian de Portzamparc and Handel Architects. It was a favorite project of City Planning Commissioner Amanda Burden, according to the New York Post.

After clearing most of the site, the developers have now opted to sell.

Studley’s Woody Heller, who is co-listing the property with Will Silverman and Eric Negrin, told the Post that “the appeal of a shovel-ready site is very strong.”

The site could draw “well into the $400s per square foot,” according to one industry source.

The asking price wasn’t immediately available. [Post, 2nd item]