Eastern Consolidated Tapped To Exclusively Market Prime Development Site On Upper West Side
Plans call for 18-story tower to be built above 210 West 91st Street; Asking Price $16 Million
New York, NY February 7, 2007 - Eastern Consolidated has been exclusively retained to sell a prime development site at 210 West 91st Street, on the south side of the street between Broadway and Amsterdam. Completed plans call for an 18-story residential tower to be constructed above an existing synagogue. The asking price is $16 million.
The envisioned 45-unit tower will contain 88,291 saleable square feet and be connected to a street level entrance though a four-story, 3,000 gross square foot lobby unit in an existing structure. The entire project will result in a 22-story, 114,000 gross square foot complex rising 430 feet above Manhattan's sought-after Upper West Side.
Ronald A. Solarz and Eric M. Anton, both Executive Directors, are marketing the site together with Jared R. Toothman and Paul. J. Nigido, Financial Services.
This offering represents a rare opportunity to acquire a fabulous development site at an attractive price, in a wonderful location, said Mr. Anton. The engineering, legal and operating agreement challenges have all been overcome, and given the below market acquisition of the site, the buyer can afford to take time bidding the job to several general contractors in a fully detailed bid situation.
Mr. Solarz concurred, This is an exceptional chance for an investor to acquire a foothold in the densely populated residential neighborhood on the Upper West Side, where any new development tends to be highly scrutinized.
The residential units will be substantially higher than a traditional 22-story tower. The first tower floor is situated 165 feet above street level and the top ten floors, which culminate in the 370 foot high penthouse, will rise above all surrounding structures offering panoramic, unobstructed 360 degree views of the Hudson River, Central Park, Midtown, and the George Washington Bridge.
Full architectural plans along with purchase, easement, and operating agreements for will be made available upon request to prospective buyers. For further information about the sale, please contact either Mr. Solarz or Mr. Anton at Eastern Consolidated's Manhattan office, 212 499-7700.
Founded in 1981, Eastern Consolidated is one of the country’s preeminent full-service real estate investment services firms, combining an unrivaled expertise in the greater New York marketplace with a worldwide roster of institutional and private investor clients. Over the years, it has been responsible for the acquisition, disposition and finance of all types of properties, including office and apartment buildings, lofts, factories, hotels, shopping centers, commercial and residential development sites, taxpayers, parking garages and lots, retail condominiums and air rights transfers.
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