J Hotel, in the heart of the gallery district between 10th and11th avenues at 510 W. 22nd St., also known as 511 W. 21st St.,will be a prominent new addition to the burgeoning High Lineneighborhood, according to Eastern Consolidated, who exclusivelyrepresented the seller. An Eastern Consolidated spokesperson tellsGlobeSt.com that they cannot disclose the identify of the seller atthis time; however, they did note that the seller is a privatelocally based investor who has owned the property for a longtime.
Eastern Consolidated director David Johnson, with executivedirectors Ronald Solarz and Eric Anton, represented the seller ofthe prime block-thru site, and also procured the buyers. The sitewas purchased by Jay-Z partners Charles Blaichman of CB Developersand Abram Shnay, along with son Scott Shnay, of SK DevelopmentGroup in two separate transactions, namely the acquisition of thebase site for $51 million, followed by the acquisition of the airrights for $15.4 million, totaling $66.4 million.
"West 22nd Street, between 10th and 11th Avenue is arguably theheart and soul of the West Chelsea High Line district and is aperfect location for an upscale life style-oriented five-starhotel," notes Solarz. According to Johnson, "we were able to obtaina benchmark price for M-zoned land in the High Line district."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, 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.
