[Perklol]

Originally Posted by NYguy

http://www.crainsnewyork.com/article/201...ntown-lot-hits-market-at-a-princely-260m

Downtown lot hits market at a princely $260M
At $700 per buildable square foot, the price would mark a new high for a residential development site in lower Manhattan, shattering the current record set just eight months ago by 17%.





Daniel Geiger
March 10, 2014

Hmm I was thinking about the price and it seems a bit far-fetched, no? I mean take a look at Extell's 220. The land and air rights went for $194 million which is fair considering what you can build there (ultra rich condo) but what can you build here (111 W.) that justifies $260 million? I could understand if it was another parcel near CPS but there's not much around here that could command such a steep price.