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Far West Side Parcel Trades for $50M

NEW YORK CITY-In its second deal announced this week, DHA Capital has partnered with USAA and Crimson Real Estate Fund to secure the Midtown West development site.

NEW YORK CITY-A partnership of DHA Capital LLC, USAA Real Estate Co. and Crimson Real Estate Fund has scored a Midtown West development parcel for $50 million. At $300 per square foot, the sale of the 546 W. 44th St. site is the highest per square foot for a residential parcel in the neighborhood since the recession began, according to Cushman & Wakefield, which advised seller Pasha Group LLC.

“546 West 44th is a great opportunity to own a prime residential development site in an area of Manhattan in the midst of a profound and rapid transformation,” says Helen Hwang, an EVP at C&W, in a release. Hwang led a team that also included Nat Rockett, Karen Wiedenmann, Steve Kohn and John LiGreci.

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