MIDTOWN WEST DEVELOPMENT SITE SELLS FOR $16M

by admin

NEW YORK CITY — Developer John Lam has acquired a development site at 1227 Broadway in the Midtown West neighborhood of Manhattan for $16 million. The site is a triangularly shaped parcel that totals 5,412 square feet. The zoning designation allows for 51,420 square feet of building space. The site currently contains two buildings and a parking lot. The buyer recently purchased the buildings at 1205 and 1225 Broadway and the new acquisition completes the entire blockfront. The new owner plans to use the site for the construction of one or two hotels. Bob Knakal and John Ciraulo of Massey Knakal represented the seller.

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