Just a short walk south of their development in Hudson Yards, Related Companies is planning to build a 22-story, mixed-use building at the corner of West 23rd Street and 11th Avenue, The Real Deal reports. Related is now in contract to purchase several parcels of land in that area from U-Haul for an undisclosed amount.
The properties Related is taking over include a three-story storage building at 170 Eleventh Avenue, two plots facing 23rd Street, and another plot on the other end closer to 22nd Street.
U-Haul will retain their property at 536 West 23rd Street, which the company currently uses as a garage for its pick up trucks and moving vans. They will however sell 70,000 square feet of air rights from that property to Related.
As is usually the case with Related, very little is known about the project so far except that this new building will have 140 apartments, and the structure itself will span about 288,000 square feet. Related will need to get city approval to transfer the air rights from U-Haul to their development site since it sits in a different zoning district, according to TRD.