Community Corner
Upper West Side Gristedes To Close, Sell To Developer: Report
The Gristedes supermarket at the corner of West 96th Street and Broadway will be bought up by Extell Development.
UPPER WEST SIDE, NY — Mega-developer Extell Development will soon close a deal on a two-story building on the corner of West 96th Street and Broadway, which will force a Gristedes supermarket occupying the space to close, according to a report.
The deal is scheduled to close in October once the building site is ready for demolition, real estate publication The Real Deal reported. Once deals air rights of nearby buildings are negotiated, the acquisition is expected to be valued at more than $100 million, according to the report.
Gristedes did not immediately respond to a message from Patch. It is unknown when exactly Gristedes will close.
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Extell's plans for the site almost certainly include demolition and a new building, since the firm is working to buy up air rights from buildings on West 95th Street, the Real Deal reported. Details about any future development project on the site have not been released, according to the report.
Find out what's happening in Upper West Sidefor free with the latest updates from Patch.
Photo by Google Maps street view
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