therealdeal.com – Back in 2011, Sheldon Solow lost a bidding war over 16 West 57th Street to Gary Barnett’s Extell Development, blocking his plans to build a luxury tower on the site and three adjacent parcels. Five years and one lawsuit later, Solow finally has his prized property.
The famously litigious developer bought the five-story, 24,000-square-foot office and retail building from Brazilian real estate firm JHSF for $128 million, according to property records filed with the city Wednesday.
Solow’s namesake company already owned the two parcels to the building’s left and right – 10 and 20 West 57th Street – and a site to its immediate south, 19 West 56th Street. He now controls an assemblage with enough air rights to build a tower with 213,000 square feet of residential space, according to Reonomy. Solow also owns the 1.38 million-square-foot office building 9 West 57th Street across the street.
Categories: Real Estate