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Related Set To Buy High Line-Hugging Sites for Record $200M

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Hudson Yards wannabe-monopolists Related Companies is extending its tentacles further south on the far West Side. Crain's reports the prolific developer is near a deal to shell out a mind-boggling $200 million for two development sites: 511-525 West 18th Street is a parking garage, while 500 West 19th Street, also a parking lot, spans from 19th to 18th all along Tenth Avenue. The two sites hug the High Line, just as developer Ziel Feldman's parcels to the north at 505 West 19th, where Danish designer Thomas Juul-Hansen is responsible for hyped-up and very pretty condos. The main difference? Feldman paid a mere $50M for his straddling sites. Related will apparently be building a 250-foot-tall residential building to the west of the elevated park, its height aided by the purchase of additional air rights. High Line proximity + car-park replacement + insane price tag = New York City real estate zeitgeist. Boom.
· Two parking lots near High Line could fetch $200M [Crain's]
Mapping the Development Boom Displacing New York City's Cars [Curbed]
· All High Line coverage [Curbed]