[NYguy]

I expect that Related will consolidate here..


http://www.crainsnewyork.com/article...TATE/131119928

Hot Hudson Yards parcel hits market at $75M
A block-long property on West 35th Street could accommodate a building of as much as 415,000 square feet, most likely a hotel and residential property. Related Cos., which owns the site next door, is one of several likely bidders.

By Daniel Geiger
November 14, 2013

Alloy Development has put a large site it owns in the Hudson Yards, west of Pennsylvania Station, on the market in what could be a $75 million sale. A tower with as much as 415,000 square feet of space could be built on the site, about 100,000 square feet of it residential, with the acquisition of air rights that are for sale in the neighborhood from the city.

A conspicuous candidate to buy the lot, whose address is 511 W. 35th St. and which runs through to West 36th Street at the center of a block between 10th Avenue and the soon-to-be-built Hudson Boulevard, is the Related Cos. In late September, Related, the area's biggest property owner and the developer of the nearby multi million-square-foot rail-yards project, acquired the site next door, at 517 W. 35th St.

Together 517 W. 35th St. and 511 W. 35th St. could accommodate a nearly 1 million-square-foot tower.

Robert Knakal, chairman of the brokerage firm Massey Knakal Realty Services, is marketing 511 W. 35th St. for Alloy and said that the parcel has also attracted interest from a growing crop of hotel developers on the far West Side. Mr. Knakal said he expected the site to become a hotel and residential project.

"With Javits nearby and the construction of all the office and retail space that is planned on the far West Side, there is a real market growing for hotels," Mr. Knakal said.