Extell Development Company is selling off a Midtown lot it was believed to once be eyeing for a 60-story building. Unlike with the massive assemblages its made for projects like Central Park Tower and One57, the Commercial Observer reports that the developer is ditching the property because it wasn’t able to convince surrounding owners to sell their sites.
Instead, the property at the corner of Broadway and West 54th streets is now being marketed as a residential development site by Yoron Cohen of Colliers International. Cohen is marketing the 288,000-square-foot zoned site as a prime spot for pied-a-terres in the 600- to 1,000-square-foot range.
The property at 1710 Broadway currently holds a 83,000 square foot office building that leases space for the corporate office of Sean John, the clothing company started by Sean “Puff Daddy” Combs.
The property has no asking price, but Cohen thinks it can sell for $200 million. It’s also being marketed under the address of 211 West 54th Street, which Cohen says is “more applicable for a residential building.”
- Gary Barnett’s Extell Selling Off West 54th Street Site for Roughly $200M [Commercial Observer]
- Extell Plans 60-Story Hotel/Condo on Broadway [Curbed]