West Side Rag
November 3, 2013
The old Hertz garage at 77th street between Broadway and Amsterdam Avenue is not long for this world. Papers were filed last week with the city Buildings Department to tear it down and replace it with (you guessed it!) luxury apartments.
The 18-story building will have about 30 apartments, and developers Naftali Group plan to make them three and four bedrooms each. (How exactly will the overcrowded schools nearby absorb the 50 or 60 potential kids who will move in, you ask? If history is any guide, don’t expect the Department of Education to pay attention to that question until about four years after the building is complete, if then.) Naftali Group paid a staggering $55.5 million for the site, which it bought from the Jewish Board of Family and Children’s Services this year.
The same developers also recently
completed began selling apartments at 182 West 82nd Street, local broker Al Isak pointed out to us, and those units are selling for $4.6 million and up. That building is under construction.
No date yet for when construction will be complete.