Jeff Levine’s Douglaston plans Hudson Yards rental tower

But developer will need zoning change to construct building

TRD New York /
Nov.November 14, 2014 08:00 AM

Jeffrey Levine’s Douglaston Development has signed a contract to lease a massive lot right by Hudson Yards in hopes of constructing a high-rise rental building there.

The developer‘s plan, however, hinges on an upzoning from the city, which would allow him to build taller than current laws allow, according to the New York Daily News.

One family has owned the land at 29th Street and 11th Avenue for more than a century. The lot is 62,000 square feet and currently holds a gas station, a gallery and several brick buildings. A number of developers have reportedly been eyeing the land, which is close to Related Companies’ Hudson Yards.

Levine also owns a 34-story rental tower at 312 11th Avenue.

Douglaston would lease the site for 99 years, while the longtime owners would keep ownership of the land.  Similar deals in the area go for $300 per buildable square foot, the newspaper reported. [NYDN] — Claire Moses

 
 

Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

Related is the latest developer to target the Rockaways
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Stephen Ross, chairman of Related Companies (Getty)

Stephen Ross to retailers: Brace yourself for bankruptcies

Stephen Ross to retailers: Brace yourself for bankruptcies
Neiman Marcus Group CEO Geoffroy van Raemdonck and Neiman Marcus at Hudson Yards (Credit: Raemdonck by NEIL RASMUS/Patrick McMullan via Getty Images; background by Noam Galai/Getty Images)

Neiman Marcus files for bankruptcy, casting uncertainty over Hudson Yards

Neiman Marcus files for bankruptcy, casting uncertainty over Hudson Yards
Douglas Eisenberg, Stephen Ross, Isaac Kassirer and Charles Kushner (Credit: Kushner by Sasha Maslov, Ross by Sean Zanni/Patrick McMullan via Getty Images)

Rent strike targets landlords who can “take the hit”

Rent strike targets landlords who can “take the hit”
A photo illustration of Stephen Ross and Time Warner Center (Credit: Joel Auerbach/Getty Images, Wikimedia Commons)

Related plans Time Warner Center revamp

Related plans Time Warner Center revamp
Neiman Marcus at Hudson Yards in New York and Neiman Marcus CEO Geoffroy van Raemdonck (Credit: Neiman Marcus by Noam Galai/Getty Images; van Raemdonck by JOE SCHILDHORN/Patrick McMullan via Getty Images )

Neiman Marcus investors to challenge bankruptcy deal, call for sale

Neiman Marcus investors to challenge bankruptcy deal, call for sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...