A parking garage—according to Bowery Boogie, the last one on Kenmare Street—is in contract to sell to developer DHA Capital for more than $50 million. DHA is planning a 68,000-square-foot, mixed-use property with retail, residential and parking, according to The Real Deal. The project sits catty-corner from Tadao Ando's 152 Elizabeth Street, yet another garage-turned-high end residential development. For the rest of Manhattan's parking garages, well, it's only a matter of time.
· The Last Parking Garage on Kenmare Street Sells for Upwards of $50M [Bowery Boogie]
· DHA Capital in contract for $50M-plus Nolita dev site [TRD]
· DHA Capital coverage [Curbed]