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Hell’s Kitchen Residential Development Site Demands—and Gets—$23.5M

NEW YORK—A parcel of land located in Manhattan’s Hell’s Kitchen neighborhood has sold for $23.5 million.

The 100,716-sq.-ft. block-through, located at 545-551 West 48th Street and 534-542 West 49th Street, provides a residential development opportunity between Tenth and Eleventh Avenues. Currently, the site is comprised of a parking garage, parking lot and mechanic.

Eastern Consolidated Executive Managing Directors Alan P. Miller and David Schechtman, Esq. together represented the seller and procured the buyer. Milt Wolfson represented the family/seller, comprised of a partnership between the Listokin family, veteran builders and Fortis Property Group.

The Located two blocks from the Intrepid Sea, Air and Space Museum, Hell’s Kitchen Park, the property had been family-owned since the 1920s.

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