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Massey Knakal Tapped to Market Development Site

WEST NEW YORK, NJ-Massey Knakal Realty Services has been tapped on an exclusive basis to sell a 35,000-square-foot site here that is zoned for residential development.

By Maria Wood | Updated on August 31, 2009

WEST NEW YORK, NJ-Massey Knakal Realty Services has been tapped on an exclusive basis to sell a 35,000-square-foot site here that is zoned for residential development. Now vacant, the parcel lies between 53rd and 54th streets and is bordered by Hudson and Palisades avenues.

Landon M. McGaw, managing director at Massey Knakal, tells GlobeSt.com that the firm is selling the property for a development group he declines to name. However, he says the seller was unable to get financing to develop the site, which has already been approved for 200 residential units in a 20-story tower along with 360 parking spaces. The parcel offers 199 feet of frontage along 54th Street and 150 feet of frontage along 53rd Street. No asking price has been established; instead, the parcel will be sold in an open auction, McGaw says.

Although the assignment was given only a week ago, McGaw reveals that a number of parties have expressed interest in bidding on the site. “It’s a strategic location, with phenomenal views,” he says.

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