NEW YORK CITY—In yet another boost for the Far West Side, the Port Authority of New York and New Jersey is looking to sell two parcels it owns in the area, according to the Wall Street Journal. The agency's land—spanning a combined 11,266 square feet on Dyer Ave., between West 33rd and 34th streets—has a maximum buildable area of 490,900 square feet.
Zoning for the two sites, according to a Port Authority issued request for proposal, which was obtained by GlobeSt.com, “permits a wide range of high bulk commercial and residential uses.” One site, on Lot 22, has a base FAR of 6.50x and a maximum FAR 13x, with 96,281 buildable squre feet, while the second site, Lot 72, features the same FARs but offers up to 393,756 buildable square feet.
Developers can construct a platform over Dyer Avenue and build a development on top of it, but they also can lower costs by combining the development rights of the two parcels on one or on another site on the block. Another option would be for developers to place all that they build on the land east of Dyer Ave. and limit construction to a cantilever over the roadway.
However, the RFP stipulates, all proposals must include a landscaped public space running through the block that connects 33rd and 34th streets.
The area surrounding these sites is rife with new, large-scale construction projects that will soon come online, including Hudson Yards, Hudson Boulevard and Manhattan West. All three firms behind these developments—Related Cos., the Moinian Group and Brookfield Office Properties, respectively—declined to comment on this Port Authority sale.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
