NEW YORK CITY—A development site at 207 W. 79th St., on the Upper West Side, has sold for $39 million. Contiguous to the landmark Lucerne Hotel, the 6,600-square-foot site is landmarks-approved for 60,000 buildable square feet. The buyer/developer—Anbau Enterprises—plans to demolish the existing five-story building to create a 13-story luxury condominium with full amenities.
Eastern Consolidated senior director George Moss procured the buyer while senior director and principal Deborah Gutoff represented the seller, 79th Street Associates LLC, in the transaction.
“This prime site is an incomparable opportunity for a new residential development to service the vast demand for luxury housing in this contemporary neighborhood,” says Gutoff. “The property was held by ownership for almost 40 years, during which time the neighborhood has demonstrated phenomenal growth appreciation and become highly desirable.”
Located on a quintessential Upper West Side brownstone block between Amsterdam Avenue and Broadway, 207 W. 79th St. is in close proximity to several neighborhoods prominent attractions, including the Natural History Museum, Central Park, Columbus Circle, Lincoln Center and Riverside Park. The site is easily accessible via the 1, A, C and E subway lines.
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