Real estate investment firm World Wide Group has placed six buildings up for sale on the Upper East Side that could pave way for a new tower on 60th Street. The collection of low-rise buildings at 143-161 E. 60th is being exclusively marketed by Cushman & Wakefield and could command a price of approximately $300 million, according to GlobeSt.com. The development site is across the street from Bloomingdale's flagship department store, and includes the building that was the longtime home of famed dive bar Subway Inn, which recently relocated. The site can accommodate a roughly 280,000-square-foot tower that could potentially rise as high as 1,000 feet, according to a Crain's report.
"This is a world-class site upon which something very special will be developed. I am sure we will have interest from developers from every corner of the globe," says Cushman & Wakefield's Bob Knakal, chairman, New York investment sales.
"World Wide Group has invested more than a decade assembling and preparing this world class development," added David Lowenfeld, COO of the World Wide Group. "The assemblage at 143-161 E. 60th St. is located in one of the most prominent neighborhoods in Manhattan—if not the world—and we look forward to turning it over to a new owner who will lead the development in its next stage of value realization."
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