Global asset management firm, the Carlyle Group purchased an industrial warehouse near the westside High Line for $16 million, according to public records filed with the city yesterday, Dec. 27. The firm has plans for a 10-story residential building on the site.
A two-story, 14,440-square-foot warehouse is currently standing on the property, at 508 West 24th Street between 10th and 11th avenues. The site is connected to High Line park and is on a block with 14 art galleries. The property was sold by media production company MetroVision Production Group, which occupied the site since 1999.
Source: The Real Deal New York