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Development Site Sale Paves Way for Condos

NEW YORK CITY-Eli Cohen, who purchased the 304 Fifth Ave. property with the intention of building retail, is selling the property for $7.5 million.

By Natalie Dolce | Updated on October 26, 2007

NEW YORK CITY-Manhattan developer Meir Levy purchased 304 Fifth Ave., a 20-by-100 deep parcel of land, from Eli Cohen and has plans for a 15-story condo building, GlobeSt.com has learned. The Murray Hill property, located on the west side of Fifth Avenue between East 31st and East 32nd streets, traded for $7.5 million or $376.51 per buildable sf.

Plans in place call for a 19,920-sf condo building with retail on the ground floor, commercial spaces on floors two through four and residential floor-through units above, including a duplex penthouse on floors 14-15. The seventh floor will also have a terrace in the front of the building due to a setback.

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