Related buys High Line site

STEPHEN ROSS, RELATED COMPANIES

Related Companies has purchased a potential development site next to the HighLine Park in Chelsea for $65 million, according to city records.

The parcel of land, purchased from the Central Iron and Metal Company, offer frontage on both 27th and 28th Streets between 10th and 11th Avenues, and is adjacent to the High Line on 28th. The deal also includes the land underneath the High Line between 27th and 28th Streets and the associated air rights.

Related’s new purchase is just blocks south of the 26-acre Hudson Yards development site, where the company recently broke ground on a 47-story office tower.

Representatives of Related Companies were not available to comment.

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