456 Apartments Filed Over a Tenth Avenue Parking Lot
The application has sat in objections since March. The excavation filing is the part that says somebody still intends to build it.
A 34-story, 456-apartment building totaling 338,261 sq ft is filed at 460 Tenth Avenue, on a block the city’s land use file still records as a parking facility. Prospect Developers II is the owner of record on the application and Christopher Fogarty of Fogarty Finger is the applicant.
Why it matters
Far West Side land that has been sitting as surface parking through two development cycles is the cheapest remaining basis in the submarket, and this is what it converts into: 456 units, not an office tower. For a developer underwriting the blocks between Hudson Yards and the Port Authority, a filing of this size on a parking lot is the clearest available read on what the current rent and construction math supports there.
The second point is procedural and more useful. This application has been in objections since March, which normally reads as a stalled project. It is not behaving like one.
The numbers
City land records put Manhattan Block 733, Lot 70 at 12,333 sq ft, building class G6, zero building area and no year built, owned of record by Sherwood 36 Associates, L.P. The filed floor area of 338,261 sq ft is far more than that single lot supports on its own, so the development site spans more than the parcel named on the application, which is normal for an assemblage and worth confirming before anyone sizes a bid off the lot alone.
The sequence since March is the signal. The parent new building job was filed March 20 and went into objections. Foundation work followed on August 28. Support of excavation was filed September 10, and sprinkler and standpipe work on September 11. A sponsor does not pay engineers to file excavation support against an application it expects to abandon.
What’s next
Watch for the objections to clear on the parent job, which is the gate between this and a demolition or excavation permit. Watch too for whether the unit count holds at 456 through plan examination. For the scale of what Manhattan is filing right now, see our count of 13 conversions proposing 5,395 apartments and the New York market.
Quick answers
- What is the latest on 460 Tenth Avenue?
- A 34-story, 456-unit tower is filed over a 12,333 sq ft Tenth Avenue parking lot, and excavation support was filed September 10.
- Who is developing 460 Tenth Avenue?
- Prospect Developers, according to NYC Department of Buildings, job M01370578-I1.
- What are the key numbers for 460 Tenth Avenue?
- Apartments filed: 456; Stories: 34; Sq ft of the recorded parking lot: 12,333; Parent application in objections: 6 mo.
On the record
The tax lot on the filing, Manhattan Block 733 Lot 70, is recorded in the city land use file as a 12,333 sq ft parking facility with no building area and no year built, owned of record by Sherwood 36 Associates, L.P.
Our data · zola.planning.nyc.gov
Primary record
- Public recordThe parent application has been in objections since it was filed March 20, while the sponsor kept filing work against it: foundation on August 28, support of excavation on September 10 and sprinkler and standpipe on September 11.View the record on a810-dobnow.nyc.gov