Jul 25, 2014

New Construction Update | Upper West Side


219-223 West 77th Street
 New Construction Update | Upper West Side

Plans to demolish a five-story parking garage on the Upper West Side were filed with the Department of Buildings. The Naftali Group, a developer is expected to build residential condominiums on the site according to The Real Deal.

The developer is in contract for the site at 219-223 West 77th Street for $61 million, or about $792 per square foot. The garage also includes Alamo and National car rental services.

The 7,700-square-foot lot, between Amsterdam Avenue and Broadway, features 75,000 square feet of build-able space. The deal is expected to close by September. No brokers represented Naftali.

The Naftali Group is working on several condominium projects in Manhattan, including the nearby 25-unit property at 206 West 77th Street.

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