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.

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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]