A collection of six buildings making up the entire blockfront on West Broadway between Warren and Murray streets (Tribeca Citizen speculates that it's the east side of the block) has hit the market, Crain's reports. Bob Knakal of Massey Knakal, the commercial real estate brokerage handling the listing, says that it could sell $50 million or more, which basically translates to "the parcel is asking $50 million." As five of the six buildings contain market-rate rentals that could be cleared out, the site is being marketed as ripe for some sort of high-end residential development. A sixth, at the end of the block, contains rent-stabilized tenants. They probably have some cause to be worried right now.
· TriBeCa site could fetch $50M [Crain's]
· Tribeca's Next Huge Redevelopment [Tribeca Citizen]