The Real Deal New York

Large development site near High Line hits the market

Part of an 11th Avenue parking lot can accommodate 440k sf, could fetch $400M
July 30, 2014 06:00PM

A portion of a West Side parking lot could soon be home to one of the largest development projects along the High Line.

Darcy Stacom and Bill Shanhan of CBRE Group are marketing half of a parking lot owned by Edison Properties at 76 11th Avenue between 17th and 18th streets, according to Crain’s. The section on offer can accommodate a 390-foot tall building with up to 440,000 square feet of space. Sources tell the news site that Edison expects the site to fetch $400 million, making it one of the priciest development sites near the High Line.

The development site is across the street from the Frank Gehry-designed IAC building. In November, DNAinfo reported that Edison was replacing thousands of pounds of contaminated soil at the site. At that time, the remediation process was expected to last a year. [Crain’s]Tom DiChristopher