PARTNERSHIP ACQUIRES HELL'S KITCHEN DEVELOPMENT SITE FOR $25.5M

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NEW YORK CITY — A 100,716-square-foot residential development site in Midtown Manhattan has sold for $23.5 million. The site is located between Tenth and Eleventh avenues, two blocks from the Intrepid Sea, Air and Space Museum. The property consists of 545-551 W. 48th St. and 534-542 W. 49th St. The site currently includes a parking garage, a parking lot and a repair garage. The buyer was comprised of a partnership between The Listokin family, veteran builders and Fortis Property Group which developed The Hudson, a ground-up residential condominium about 12 blocks further north. Alan Miller and David Schechtman of Eastern Consolidated represented the seller and procured the buyer in the transaction.

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