Center Sixth

Real Estate Weekly, March 15, 2000 by Lois Weiss

But despite the investment by Witkoff with a promise that Matthew Adell would take part in the development, so far, they've been beat by two other developers. The Albanese family got in the ground first, and Macklowe is already working on foundations.

The fleas are jumping with the news that Steve Witkoff is selling off the smallest parcel of his Center Sixth project. The 164,000 square-foot development site, on the west side of Sixth Avenue between 25th and 26th Streets, is one of three that he purchased from the Adell family a bit over a year ago. Since Leonard Adell first started his campaign to rezone the corridor about 19 years ago, that makes the sites nearly antiques themselves.

Christopher Albanese, vice president of Albanese Development Corp., says their rental will be named The Vanguard. "Signs should be going up soon," he says. Feathered Nest will be marketing the rentals out of an office that will open in April, with apartments ready for delivery in June and July.

Harry Macklowe has also broken ground on his site at 777 Sixth.

The area was rezoned to C6-4X that allows for a 10 FAR.