By Holly Dutton
Extell Development is offloading another midtown south development site.
The company has tapped Massey Knakal co-founders Robert Knakal and Paul Massey to market the block-through site at 113-117 West 24th Street through to 112-118 West 25th.
Currently a three-story parking garage, the site is attracting plenty of interest, despite its $85 million price tag, according to Knakal.
“Most of the interest has been from hotels and developers,” said Knakal, noting that the property will yield approximately 268,999 buildable s/f, with zoning for a public plaza that would increase the development to 300,278 s/f. “It is rare to have a development site of this size become available in this neighborhood and although we just brought this site to market, the demand has been very strong,” added Massey in a press release from the company.
Extell will consider dividing the site into two separate parcels if a developer chooses to pursue a smaller site.
In September, Extell went to contract on a nearby Flatiron development. Gale International, a Manhattan-based developer operated by the same family that founded Long Island residential brokerage, Daniel Gale Sotheby’s International Realty, is reportedly buying the site at 19-25 West 20th Street, a 9,200 s/f lot that includes rights to build three stories above an adjacent seven-story parking garage.
After acquiring the property for $28 million in 2008, Extell won Landmarks Preservation Commission approval to build a 15-story residential building on the vacant lot and attach it to three more stories on the garage for a total of 19 units.
The developer never went ahead with that project, but has filed plans with the Department of Buildings to build an 88-story residential tower at 217-225 West 57th Street, just down the street from its showpiece One57