Global real estate firm Cushman & Wakefield has announced that they have arranged the sale of 415 West 120th Street, in Morningside Heights. The buyer was represented by a C&W brokerage team and purchased the building for a total of $20.3 million.
The site measures 75 feet wide, and is a 7,569 square feet lot. The sale offers a total 45,565 square feet of buildable space for residential use, with an option for 3,633 square feet of additional space if a community facility is included.
“The property represents a prime opportunity to build ground-up new construction in an area that seldom sees new development,” said Hall Oster of Cushman & Wakefield. “The neighborhood’s proximity to some of the most prestigious institutions in the city including Columbia University, Teachers College, and Barnard College provides an ideal location for student housing focused development.”
Future tenants will be located eight blocks away from the Frederick Douglass Boulevard 125th Street Subway Station, serviced by the A, B, C, and D trains. The 116th Street subway station on Broadway is just seven blocks away and serviced by the 1 train.
Provided imagery reveals the scale and shape of new development that can be expected, though this exact design is unlikely to be the final candidate.