Related Companies has sealed the deal on the purchase of six neighboring West Chelsea sites where the Hudson Yards developer is expected to construct a 22-story mixed-use building.
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. The site takes up the Western portion of the block bound by 22nd and 23rd streets and Tenth and Eleventh avenues.
The properties were formerly owned by U-Haul’s parent company Amerco, who Related also purchased 70,000 square feet of air rights from for the site. U-Haul will retain the property whose air rights they sold at 536 West 23rd Street, which the company currently uses as a garage for its pick up trucks and moving vans.
In total, the development company dished out $234 million for the assemblage and air rights. The Real Deal first reported the sale.
Related hasn’t filed plans for the site—the deal did just close, after all—but the developer has indicated that it wants to build a 22-story building with 145 apartments.