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Another High Line Development Site Is on the Market

Condos aren't the only real estate going bananas near the High Line. New office space in the area also rents for above average, asking around $100 per square foot, and a development site at 541 West 21st Street is primed to take advantage of the market. Crain's reports that the 65,000-square-foot warehouse could fetch $65 million or more. The eight-story building is less than a block from the High Line, and it's currently used by an art storage company. It's zoned for commercial use, so it could be converted into a hotel or office building. Turning it into residential would require a zoning change, so it's unlikely—but not unheard of.

The empty lot beside the warehouse in the Google Streetview screenshot above is now occupied by Norman Foster's 551 West 21st Street.
· Warehouse Worth More Than $65M is Up for Grabs Near the High Line [Crain's]
· Mapping the Many Developments Rising Around the High Line [Curbed]