Last month, Alloy Development listed a large parcel of land it owns in the Hudson Yards area for $75 million. The site at 511 West 35th Street could soon see a tower with as much as 500,000 square feet of space built, and now Alloy has released renderings of its own, meaning the site might not actually trade hands.
Related Companies would be the most obvious firm to purchase 511 West 35th Street, as the company is spearheading the Hudson Yards Redevelopment. Related also owns a plot of adjacent land at 517 West 35th Street, which could potentially result in another supertall tower if Related would transfer airrights.
The development site at 511 West 35th Street has an emphasis on commercial space, though near 20 percent could end up being residential. According to an earlier report by Crain's, the land has piqued the interest of hotel developers. The site has frontage on both 35th and 36th Streets, and is adjacent to the extension of the No. 7 subway line.
The far West Side of Manhattan continues to undergo rapid change and construction. The development at Hudson Yards recently celebrated its one-year annivesary, release several new renderings of what will come to the Midtown West neighborhood. When Hudson Yards is completed, over 17 million square feet of space will be transformed into commercial, retail, school and residential space.
Further north, Hell’s Kitchen is undergoing a new construction revival, with several luxury condos rising in the neighborhood.