Air Rights Deal Could Bring 100k SF Mixed-Use Development To 125th Street
If a recent air rights purchase is any indication, there could be a big new development coming to 125th Street between Manhattan and Morningside avenues.
Haim Nortman has closed an air rights deal worth $10.2M that would allow a building of over 100k SF to be built at 350-360 West 125th St, the Commercial Observer reports.
The air rights were picked up from the Fata Organization, and the deal closed on Dec. 13. Plans for the site will include retail and residential space, according to BSD Realty Worldwide’s Charles Glatter, who brokered the sale.
The deal completes an assemblage anchored by the former site of LaGree Baptist Church at 362-370 West 125th St, which Nortman picked up for $28.5M in July. [CO]