16 West 57th Street

Back in September of 2014, YIMBY brought you an update on the development site at 16 West 57^th Street, along Midtown’s Billionaires’ Row, when the property was acquired for $95 million by a Brazilian investor. Last week, developer Sheldon Solow acquired the property, a five-story, 24,000-square-foot commercial building, for $128 million, The Real Deal reported. The developer also owns the adjacent properties at 10 West 57^th Street, 20 West 57^th Street, and 19 West 56^th Street. The site assemblage now boasts 213,000 square feet of residential development rights, plus additional rights that can be put towards a commercial component. The new owner has yet to disclose plans for the site. Demolition permits were filed last year to raze 16 West 57^th Street as well as the six-story office building at 19 West 56^th Street.