:no_upscale():quality(75))
Silverstein Properties has a new plan for a development site near Hudson Yards on Manhattan’s far west side.
The developer had previously planned a 1,000-foot-tall spire for the site. The new plan is to build two separate towers, in sequential phases at the site, at 514 Eleventh Ave, Crain’s reports.
Silverstein paid $115M for the site, a former Mercedes-Benz dealership, in 2015.
The project’s first phase is a 600k SF condo tower, with a second phase that would be an office tower totaling about 1M SF. Both will be built within what’s allowed by existing zoning. Silverstein is still mulling its options for the site, so the two-phase plan could still change.
The site’s future has been called into question since Silverstein picked it up, with the developer at one point putting it on the market. [Crain’s]
