NEW YORK | 240 W 54th St | FT | FLOORS

„It’s the end of the road for the giant iguana that’s been parked on the side of 240 West 54th Street for two decades.

A developer based in Flushing, Queens, snapped up the longtime home of Iguana New York and plans to replace the defunct restaurant and Latin dance club with a residential development, Commercial Observer has learned.

“It’s right smack in the middle of Midtown, so it would make a great hotel site,” Brodhead said. “But the uncertainty and contingencies with getting a special permit for a hotel this small meant it didn’t pencil out. Residential seemed to be the best bet.”

The exact plans for Hiwin’s residential property aren’t clear, but the developer also recently acquired another Manhattan development site at 112 Liberty Street earlier this year, as CO previously reported.“

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