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NEW YORK CITY-An unidentified owner has put a development site at 511 W. 21st St. up for sale. Eastern Consolidated is marketing the Chelsea property, which is priced at $52.5 million and located across from the new High Line Park.

“This offering represents the best opportunity for a developer to invest in the burgeoning West Chelsea neighborhood, with approximately 200 feet fronting the soon to be completed High Line Park,” says Ronald Solarz, executive director at Eastern Consolidated.

The property, which is adjacent to the 1.5-mile long High Line Park between 21st and 22nd streets, is zoned for a variety of uses including hotel, office and museum. A structure on the almost 20,000-sf site could total 98,750 sf.

Currently, an 88,000-sf, five-story warehouse building sits on the site. A single tenant occupies the facility but executives with Eastern Consolidated say the tenant is willing to move prior to the expiration of their lease in November 2008.

Solarz with Eric Anton, David Johnson and Jared Toothman, all with Eastern Consolidated, are marketing the property.

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