A for-sale site on 129th Street off of Amsterdam Avenue could give way to a 150,000-square-foot, two tower residential building. The dual parcel, which NYDN reports came to market this week and could fetch up to $40 million, is in the newly-minted Manhattanville Factory District, where ritzy developments like a Soho House knock-off are already cropping up. The site is also close to Columbia University, which has gained a reputation for its aggressive expansion, and the City College of New York meaning that it, despite the area's relative lack of residential buildings these days, may be prime territory for a developer looking to build small apartments and rent them for not small prices.
[Rendering of what could rise on the site courtesy of Cushman & Wakefield.]
NYDN also reports that residential rents in the Manhattanville Factory District rose 13.6 percent in 2014, due to the appearance of more luxury housing in the area.
· Sale of upper Manhattan site could pave way for two towers [NYDN]
· All Manhattanville Factory District coverage [Curbed]