Midtown


Developer Acquires Air Rights For Planned Hotel At 450 11th Avenue, Hudson Yards District

Marx Development Group has acquired 35,550 square feet of transferable development rights for $7 million as they prepare to build a 39-story and 438-key hotel at 450 11th Avenue, in Midtown West. According to Commercial Observer, the building will measure 213,300 square feet, although plans have yet to be filed with the DOB. Multiple single-story commercial buildings must first be demolished, and ground breaking is planned in 2016.

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323 10th Avenue

Lalezarian’s 35-Story Mixed-Use Tower Revealed At 323 10th Avenue, West Chelsea

At the end of 2014, YIMBY semi-revealed Lalezarian’s planned 35-story, 220-unit mixed-use tower at 323 10th Avenue, in West Chelsea. Now, renderings of the tower have been posted on-site and construction is underway, with rebar poking up above street level, courtesy of photographs by ILNY and Tectonic. The project also includes two other 13-story buildings on the other side of the High Line, at 507 West 28th Street, which will amount to another 155 residential units.

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541 West 21st Street

Eight-Story Commercial Building At 541 West 21st Street Hits the Market

The eight-story, 65,000 square-foot warehouse at 541 West 21st Street, in West Chelsea, has been placed on the market as a redevelopment site. The property could be worth more than $65 million, according to Crain’s Business. The commercial property is primed for a hotel or office conversion. Property owner Erno Bodek has tasked Meridian Investment Sales and Rosewood Realty Group with marketing the property.

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