Sherwood Equities to Sell 460 10th Avenue Hudson Yards

One of the last big development sites in Hudson Yards is up for grabs.

Jeffrey Katz’s Sherwood Equities has listed its development site at 460 10th Avenue, which could be built into a 233-unit residential building. The company, which bought the site in the early 1990s in anticipation of a West Side rezoning, is aiming for a price tag north of $100 million, sources told The Real Deal.

Sherwood recently put together plans with Corcoran Sunshine’s new development team and the architecture firm Perkins Eastman for a 42-story tower with a mix of studios and one-, two- and three-bedroom apartments. 

The company also assembled 60,000 square feet of inclusionary housing certificates, which allow all of the residential square footage to be market rate for either condominium or rental.

The site, which takes up the entire western side of 10th Avenue between West 35th and West 36th streets, is zoned for roughly 250,000 square feet of development rights. 

A JLL team led by Andrew Scandalios and Jonathan Hageman is marketing the site.

Sherwood has an active history on the West Side. 

The company in 2014 sold two pieces of land at the corner of 34th Street and 10th Avenue for $200 million to Tishman Speyer for part of what would ultimately become its 2.85 million-square-foot Spiral office tower.

Sherwood also developed a 32-story condo building in West Chelsea on a plot of land at 500 West 21st Street that it bought in the aftermath of the financial crisis.

The Hudson Yards site sits across the street from Related Companies’ 451 10th Avenue, a 44-story building that includes 272 rental apartments as well as 132 units of senior housing.

A few blocks north, Rockrose earlier this year launched leasing at its 599-unit Lyra apartment building at 555 West 38th Street. 

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