They've been talking about this over at wirednewyork for a while.
http://wirednewyork.com/forum/showthread.php?t=22817
Not expecting too much on this site, but likely a hotel.
Lecom posted this shot:
• Video Link
Neighboring site was sold...
http://therealdeal.com/blog/2014/05/...kish-hotelier/
Himmel + Meringoff sells 686 Lex to Turkish hotelier for $21M
Marmara Hotels to construct extended-stay hotel on site, seller says
May 13, 2014
By Mark Maurer
Quote:
Turkish-based hotel chain Marmara Hotels & Residences acquired the 15,000-square-foot property at 686 Lexington Avenue, near 57th Street, for a total of $21.25 million,
Stephen Meringoff of Himmel + Meringoff told The Real Deal. The sale includes $13.7 million for the fee interest and $7.5 million for the leasehold interest. Alan Cohen
of ABS Partners Real Estate represented the buyer in the deal; no broker represented the seller.
Marmara bought the building’s air rights for $4 million in 2010 and wants to build an extended-stay hotel on the site, Meringoff said.
“We own 681 Lexington and thought it would benefit from a hotel on the corner,” Meringoff told TRD.
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