Toll Brothers had a very happy holiday season, it seems. The developer purchased 953-961 First Avenue, long a hole in the ground, and will likely be doing a residential project there. The developer purchased one other potential condo site at the end of 2012, The Real Deal reports: 78-86 King Street. There's currently a 40,000-square-foot building there, with 160,000 square feet more of air rights available. In other words, the spot has potential.
But Toll Brothers' plans for it are not definite. They depend on whether the Hudson Square rezoning makes its way through the city approval process. The rezoning would allow Toll Brothers to go condo on the spot and capitalize on Hudson Square boosters' hoped-for residential influx. So this is another one to keep an eye on this year.
· Toll Brothers pay $56M for Soho site [Real Deal]
· Toll Brothers coverage [Curbed]
?King Street photo via PropertyShark.