Joint Venture Acquires Manhattan Site for $65M to Redevelop as Residential Tower

NEW YORK CITY — Sumaida + Khurana and LENY have acquired a vacant commercial building located at 611 W. 56th St. in Manhattan’s West Side for $65 million. The joint venture plans to demolish the existing structure and redevelop the site into a 35-story residential condominium building. Alvaro Siza designed the building, which will feature 80 units ranging from one- to four-bedroom layouts and penthouses. Amenities will include private terraces, a roof garden, sun deck, fitness center and retail components. Carl Schwartz, Susan Saslow, Douglas Hoffmann and Michal Baum of Hunton & Williams advised the joint venture on the acquisition. The name of the seller was not released.