Quote:
Originally Posted by jollyburger
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It seems more likely to be an investment purchase. The building is from 1981 and already at almost 2 FSR, and partly on 3 floors, with a recent addition of a fully glazed stair tower. The most they could build is 3 FSR. They might be able to add a couple of floors on the single storey part of the building, but then they would probably have inadequate parking.
There are a lot more obvious candidates for redevelopment in that area. It would make some sense if the same owner acquired the adjacent sites; 59 W7th is older, and 1.5 FSR, and 45 W7th is only 0.45 FSR. If at least those three sites were combined, it would probably be worth redeveloping as a 75,000 sq. ft. building.