Investment Sales
350 West 37th Street
350 West 37th Street is a 225k Sf luxury residential rental development in the Husdon Yards. Ray Cecora acted as a transactional broker having sourced
matched buyer and seller. Research into city zoning, more importantly, pending zoning changes, allowed Ray to see potential opportunities for value creation and development by targeting under utilized property and parcels in areas set to change. He began making relationships with every property owner within the area labeled the Hudson Yards to see if he could find a match for one of his developer clients.
350 West 37th was a parking located on a block within a area rezoned from manufacturing/commercial use to residential. The new zoning increased the FAR tremendously as well as added a 421-a tax abatement. Ray Cecora was involved in the entire process from sourcing the site and owner, negotiation of acquisition, due diligence, deal underwriting, project plans, and financing.
Overview
Represented both buyer and seller in the sale of a 170k SF residential rental development site. Sourced the opportunity through a keen understanding of market conditions and areas where, performed zoning analysis, navigated new incentive programs available for the developer to build to the highest and most profitable use.
Related Projects
-
224 West 57th Street
-
2 Rector Street
Off Market Transaction



