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.
A source close to the deal tells GlobeSt.com that Cohen bought the property with the intention of building there and putting retail on the ground floor. “An existing building with vacant retail space popped up down the street, so he no longer needed the property.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
