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JDS Set To Buy Chelsea Development Site For Record Price

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Developers cannot get enough of Manhattan's West Side. Yet another development site is set to be picked up for a record-setting price. Crain's reports that JDS Development Group, as a joint venture with Largo Investments, plans to buy 510-514 West 24th Street for $32 million, which doesn't sound like that crazy of a price, but it works out to $800 per buildable square foot, and that would be a record. The site is just a half a block from the High Line, and it's located between Cary Tamarkin's new 10-story condo and Related's rental building, the Tate. Currently, the site is occupied by two three-story buildings. Earlier this week, Crain's reported that two other development sites near the High Line were picked up by Related, and last month three other sites sold near Hudson Yards.
· Sale of Chelsea site for $32M, could set record [Crain's]
· All JDS Development Group coverage [Curbed]