NEW YORK CITY-Chicago-based Equity Residential is assuming control over a stalled site at 170 Amsterdam Ave. situated on the Upper West Side for an amount of $76.5 million. The company, led by Sam Zell, has inked a lease for 99 years with American Continental Properties for the 20,700-square-foot site.
According to documents, the site has rights for nearly 238,893 square feet of development. The new building will contain 230 apartments and nearly 8,500 square feet of retail space. For the full story, go to New York Post .
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