NEW YORK CITY-A prime development site located in the heart of the Hudson Yards rezoning initiative at 435 W. 33rd St. on the west side of Manhattan was sold by locally based Darren Hornig of Saxa Inc. A source close to the deal tells that although the buyer is confidential, they are a Long Island hotelier and purchased the property in an all-cash transaction for $24 million.

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.

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