In his search for serenity, William Tecumseh Sherman retired to West 71st street in the 1880s. 350 West 71st Street resulted as a form of conversion when DNA Development purchased two adjacent SROs on the street with the intention to combine their interiors to produce luxury condo buildings.
With the flow of traffic blocked from entering the 71st Street west of the West End Avenue, this building enjoys a very special location.
Proudly based on one of the most residential streets amidst the madness of the city, 350 West 71st Street promises city living, paired with a quiet place to unwind from the hustle and bustle of the city.
The building is set to feature 38 two to four-bedroom condos; with seven having access to their own private outdoor spaces.
THE REAL DEAL ARTICLE
DNA Development is the mystery buyer of Extell Development’s parking garage at 12 West 48th Street and of two single-room-occupancy buildings at 346-350 West 71st Street for a combined $92.5 million.
The two deals were reported by The Real Deal and the Wall Street Journal, respectively, in late June, but the buyer’s identity was not known at the time.
The acquisitions mark DNA’s first foray into Manhattan. At 12 West 48th Street, which the firm bought from Gary Barnett’s Extell for $37.2 million, the firm plans to demolish the vacant parking garage and develop a retail building. At 346-350 West 71st Street, bought for $55.25 million, it plans to convert the two SRO buildings into a single 72,000-square-foot condominium building with 38 units, designed by DXA Studio.
“We’ve had our eye on Manhattan for a while now, and we were waiting for the right opportunity,” DNA Development’s partner Alexander Sachs said in a statement.
The firm is currently developing an 80,000-square-foot condo building at 280 St. Marks Avenue in Prospect Heights (sales launched in November) and is renovating an eight-unit apartment building at 343 Sixth Avenue in Park Slope.
CONTACT US FOR MORE INFORMATION ABOUT THIS AND OTHER NEW DEVELOPMENTS IN NYC, BROOKLYN & QUEENS!