The 75-foot-wide property is located on the north side of West 33rd Street between Ninth and 10th avenues. Utilizing the District Improvement Bonus, the property has a potential 96,281 buildable sf as the new zoning codes of the Hudson Yards District allow a developer to purchase approximately 22,219 sf of air rights from the city.
The property was sold for $324.05 per buildable sf. "The sale of 435 W. 33rd St. represents the continuing trend of hotel development occurring today throughout Manhattan," notes Massey Knakal chairman Robert Knakal, who exclusively represented the seller. "This is an unparalleled development site in what is arguably the most exciting area in Manhattan real estate." Massey Knakal Realty Services was the sole broker. Sources could not provide more information, including the reason for selling.
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Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
