Property near Hudson Yards project may net $100M

Small site on West 39th Street could give rise to 300,000-square-foot mixed-use tower

TRD New York /
Apr.April 14, 2014 03:55 PM

Amid a flurry of sales close to the Far West Side’s Hudson Yards development site, one nearby parcel could sell more than $100 million, according to the brokerage representing the seller.

Zoning at 350 West 39th Street, currently home to a two-story Bauhaus-style building, would allow up to 300,000 square feet of mixed-use space at the site, Massey Knakal Realty Services told Crain’s. The plot, situated between Ninth and 10th avenues, also has frontage on 38th Street, according to a review of property records.

The property’s owner is Robert Greenberg, chief executive of the marketing company R/GA, which has occupied the building since it was built in 1984 and has a lease on the space until 2015, Crain’s reported.

The brokerage is also handling the sale of another nearby site between West 34th and 35th streets and between Ninth Avenue and Hudson Boulevard, according to the article. Tishman Speyer is currently interested in the $200 million property there and is inching closer to a contract, as previously reported. [Crain’s] — Angela Hunt

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