NEW YORK, NY– HFF announced today that it has closed the $35 million sale of a 9,875-square-foot development site in Manhattan’s Hudson Yards neighborhood.
HFF worked on behalf of the seller, a subsidiary of Lehman Brothers Holdings Inc. New York-based real estate developer David Marx purchased the land parcel for $35 million.
The development site is situated on 9,975 square feet at 448-452 11th Avenue and 556 West 37th Street in the Hudson Yards neighborhood. The site is directly across the street from the Jacob K. Javits Center, and can accommodate residential, retail, hotel, office or entertainment uses.
The HFF team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz and managing directors Jeffrey Julien and Kevin O’Hearn.
“No immediate development plans for the site have been announced,” commented Scandalios.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.