Some public records have now shown that 18 West 126th Street sold for $15,856,480 back in the middle of April and one might wonder what was the high selling price all about? This is actually the vacant land that faces 126th Street (top photo) and connects to 5 West 125th Street (middle photo), the huge open parcel that is just west of 5th Avenue. We mentioned that some official NYC signs recently went up on the site stating the project finish date would be around 2012 and those have now been updated more specifically to August 2012 (last photo). The company 125 Property Interests LLC, an affiliate of Reisman Property Interests, LLC, had planned a luxury hotel back in 2007 and was seeking bond financing for the hotel project as late as last October: LINK. Also based on a reader's research, another option by the Feil Organization has a five-story building with retail and office space listed on their site for the lot: LINK. We are no experts, but for the price paid for the land, it would seem building the taller hotel would make more sense and some bonds must have been made available recently to allow the sale in April to go through. With such a big transaction, surprisingly little information seems to be out there. Anyone heard any new news? All photos by Ulysses.
Wow! Nice follow-up! Hopefully we'll find out what is going to be built soon.
ReplyDeleteMore hotels = more local business. Baffling to me that it has taken this long for the hotel biz to catch on. Excellent transportation, direct route to LaGuardia and JFK and express lines to midtown and financial district. Agreed, great follow up Ulysses.
ReplyDeleteGreat info. For the sake of High Five, I hope it's the hotel.
ReplyDeleteUly, my read on this is that both the hotel and the five-story retail would be built as separate structures in the lot, with the hotel tower set back somewhat from the street.
ReplyDeleteThe Feil Organization doesn't look like much...it sucks. When in Manhattan go BIG or go home!
ReplyDeleteI meant the Feil Organization's proposed building
ReplyDeleteStop trying to make high five work. It's not happening.
ReplyDeleteHig Five is working fine.
ReplyDeleteHigh Five is working fine.
ReplyDeleteBrace yourself. 1:17, I hear there's going to be a T-shirt.
ReplyDelete