Morningside Heights Building Site Sells For $20.3M, Report Says

MORNINGSIDE HEIGHTS, NY — A Morningside Heights site ripe for new development has changed hands for more than $20 million, according to public real estate records.

The vacant site, located at 415 W. 120th St. between Morningside Driver and Amsterdam Avenue, sold in February for $20.3 million, according to public records. The new owner of the property is listed as an LLC company based in Boca Raton, Florida and the previous owner is an LLC company based in Englewood Cliffs, New Jersey.

The sale was brokered by Cushman & Wakefield, real estate publication New York YIMBY first reported.

"The property represents a prime opportunity to build ground-up new construction in an area that seldom sees new development," Hall Oster of Cushman & Wakefield told New York YIMBY. "The neighborhood’s proximity to some of the most prestigious institutions in the city including Columbia University, Teachers College, and Barnard College provides an ideal location for student housing focused development."

Future development plans for the site are currently unknown. The 7,569-square-foot lot, which is 75 feet wide, can yield 45,565 square feet of residential development, New York YIMBY reported. Cushman & Wakefield provided renderings of what a potential development may look like to the publication.

Check out the renderings at New York YIMBY.

Photo by Google Maps street view