A New York City filing proposes a 13-story project on the lot.
"The New York Post" reports that Shaya Boymelgreen has sold his stake in a lot at the southwest corner of Tenth Avenue and West 23rd Street in Manhattan to Equity Residential (NYSE: EQR), controlled by Sam Zell. Equity Residential paid Boymelgreen $11.25 million for the long-term ground lease and also paid other parties $750,000 for the land.
Earlier this week, Boymelgreen Developers LLC was handed an eviction notice from his Brooklyn headquarters as part of a legal dispute with his landlord.
"The New York Post" adds that the Department of Buildings filings propose a 13-story project on the lot, including a fitness center, community rooms and 96 apartments.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2010
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