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Development Site Up for Sale Near Riverside Center
JLL Capital Markets was selected to market for sale 537 W. 59th St., located between Amsterdam and West End avenues on Manhattan’s Upper West Side. The 75-foot wide development site is currently zoned for up to 48,952 buildable square feet, or 52,368 gross square feet. The asking price is $22.5 million.
The team of Paul Smadbeck, Hall Oster, Conrad Martin, Teddy Galligan, Braedon Gait and Jameson Hill is leading the marketing efforts. The site is improved with an existing 18,000-square-foot, three-story television production studio that will be delivered vacant.
The property occupies a strategic position at the convergence of Midtown West, Lincoln Square and Columbus Circle. It’s less than a block from Riverside Center, the home of recently completed mega-projects from Silverstein Properties, Dermot Companies and CIM Group.
“537 W. 59th is an excellent opportunity for a boutique developer looking for an exceptionally located, light-filled as-of-right development,” Smadbeck said.
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- ◦Development
- ◦Sale/Acquisition
