New York, NY – January 19, 2018 – Cushman & Wakefield announced today that the firm has been appointed the exclusive agent for the sale of 15-19 West 96th Street; a 60’ wide shovel ready development opportunity located two lots west of Central Park on Manhattan’s Upper West Side. The asking price is $45,000,000.

A Cushman & Wakefield team consisting of Senior Managing Director Paul B. Smadbeck, Senior Managing Director Hall Oster, Associate Director Teddy Galligan, Associate Director Conrad Martin, Senior Associate Bryan Smadbeck and Associate Tim O’Brien will be leading the marketing efforts on behalf of the seller.

“The site at 15-19 West 96th Street offers developers a unique opportunity to build new construction in an area where ground-up condominium product rarely exists,” said Paul B. Smadbeck of Cushman & Wakefield.  “With an existing fully executed contract to sell the community facility component to an end-user upon substantial completion of the space, the proceeds from this the sale will lower the effective acquisition cost of the residential floor area to a substantial discount compared to prevailing market rates for developable land on the Upper West Side.”

Currently, ownership has plans designed by SLCE architects for the construction of a 22 story, 60,310-square-foot condominium tower. The new building will be comprised of a 17,762-square-foot community facility space on floors one through five and a 42,558-square-foot residential component spanning floors six through 22. The residential component will feature 16 apartments, averaging 2,269-square-feet and offering private outdoor access. Floors 12 through 22 are slated to rise above the adjacent buildings providing unobstructed views of Central Park.

Located between Central Park West and Colombus Avenue, 15-19 West 96th Street sits on a double wide street steps away from Central Park West and adjacent to the 97th Street transverse, providing seamless access to the East Side. The property is also well serviced by the 1, 2,3, B and C subway stations and multiple bus stops.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.