July 31, 2019
Ariel Property Advisors has facilitated the sale of 440 W. 36th St., a development site in the Hudson Yards neighborhood. The property – currently a 25-foot wide vacant, six-story multifamily building – sold for $6.9 million, or $464-per-buildable-square-foot and $1,095-per-existing-square-foot.
An Ariel team of Matthew L. Gillis, Howard Raber and Michael A. Tortorici represented the seller. Angela Huang of Chase Global Realty LLC, procured the buyer.
“This development site provides an opportunity to invest in Hudson Yards, by far Manhattan’s most transformative area, without the risks and factors associated with ground-up development,” said Gillis.
The site is surrounded by numerous high-profile residential and commercial developments, both within Related Oxford’s Hudson Yards mega-project and in the surrounding area.
It also offers a range of transportation options, including direct access to the No. 7 train’s Hudson Yards station less than two blocks away.
For comments, questions or concerns, please contact Paul Bubny