JLL Capital Markets has been retained by Sherwood Equities to arrange the sale of 460 Tenth Ave., one of the last remaining large-scale residential development sites in Manhattan’s Hudson Yards neighborhood. A JLL team led by Jonathan Hageman, Ethan Stanton and Andrew Scandalios is representing Sherwood Equities, which acquired the site in the early 1990s, ahead of the Hudson Yards rezoning.
The 17,275-square-foot site consists of three adjacent tax lots featuring 273 feet of wraparound frontage and occupying nearly the entire eastern blockfront along Tenth Avenue between West 35th and 36th streets. It is being offered for sale with as-of-right zoning allowing for nearly 250,000 square feet of zoning floor area.
Sherwood Equities recently developed schematic plans in partnership with Corcoran Sunshine’s New Development team and architecture firm Perkins Eastman. The plans show a 42-story residential condominium tower featuring below-grade parking, ground-floor retail, two amenity floors interconnected by an outdoor terrace and 233 residential units. Flexible zoning supports condo, rental or hybrid development.
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