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Extell's Gristedes-replacing Upper West Side condo could soon be a reality

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The developer has closed on the $80 million purchase of the UWS site

Via Christopher Bride/PropertyShark

Extell is very close to moving forward with a planned condo building on the Upper West Side, The Real Deal has learned. The developer closed on the purchase of the former Gristedes location at 262 West 96th Street, and is negotiating on the purchase of air rights from nearby buildings to make the new development possible.

Though no plans have been filed with the city’s Department of Buildings yet, TRD posits that the developer is planning a project that could measure over 200,000 square feet. The two-story corner building at 262 West 96th Street will likely be demolished to make room for this project, according to TRD.

A Chase Bank branch still occupies this building, but there’s a lease termination agreement in place, so that shouldn’t pose a problem to the developers. Extell paid a total of $80 million for the West 96th Street property.