Whitney Museum’s arrival spurs Meatpacking District development activity

TRD New York /
Apr.April 17, 2013 11:00 AM

The impending arrival of the Whitney Museum in the Meatpacking District is prompting a flurry of development activity in the neighborhood, the New York Times reported.

The site of Former Mobil Gas Station On Tenth Avenue between 14th and 15th streets is being redeveloped into retail space, for example. Construction is slated for completion this August and the development team has tapped RKF to market the space.

“We are looking to either do multiple stores, like accessories or home furnishings, or one large flagship,” Robert Futterman, chairman and CEO of RKF, told the Times.

Thor Equities has also been aggressively buying in the neighborhood. Thor owns four buildings totaling about 170,000 square feet and is in the process of buying a fifth property that will add 100,000 square feet to its portfolio, Thor CEO Joseph Sitt told the Times. At 837 Washington Street, Thor and partner Taconic Investment Partners, are building a 55,000-square-foot office and retail property.

DelShah Capital recently purchased a 10,839-square-foot Building On Ninth Avenue for $18.2 million. In addition, as The Real Deal reported, DelShah won an ownership dispute over 55 Gansevoort Street, where it is in talks to create a boutique hotel property.

But if hotel doesn’t work, the building will house office and retail. [NYT] –Zachary Kussin


Related Articles

arrow_forward_ios
29 Ninth Avenue (Credit: Google Maps and iStock)

Rolex gliding into the Meatpacking District

Nusret Gökçe aka Salt Bae, 413-421 West 14th Street (foreground) and 412 West 15th Street (Credit: Getty Images, iStock)

Rockpoint, Highgate slice $75M off price of Meatpacking site

Wharton Properties' Jeff Sutton, Thor Equities' Joe Sitt, 530 Broadway and Michael Shvo

Jeff Sutton and Joe Sitt are selling 530 Broadway for $400M

Thor Equities' Joe Sitt and 180 Livingston Street (Credit: Google Maps, iStock)

Brooklyn megachurch sues Thor for “putrid” leaks from Dallas BBQ

494 Broadway and Thor Equities' Joe Sitt (Credit: Google Maps)

Thor faces foreclosure on site where lender says it’s seeking “unrealistic rents”

The beach in Tulum, Mexico, and Thor Equities Joe Sitt (Credit: Thor Equities LLC via Bloomberg)

Joe Sitt’s $100M plan for Pablo Escobar’s Tulum compound

Aurora Capital Associattes' Jared Epstein (Credit: Getty Images and iStock)

Aurora Capital pitches free rides for Meatpacking shoppers

93 North 9th Street in Williamsburg, Thor Equities' Joe Sitt, and a KAWS statue (Credit: Google Maps and Jim Bowen via Flickr)

Acclaimed artist KAWS pays $17M to expand Williamsburg studio

arrow_forward_ios
Loading...