The 12-story building planned by 511 9th LLC, a partnership headed by Solly Assa, for the former site of the Supreme Macaroni Company at 511 Ninth Avenue between 38th and 39th Streets will have not only 96 residential condominium apartments as reported by CityRealty.com yesterday based on plans have been filed with the city, but also a "luxury boutique 90-key hotel" and a "a high-end restaurant."

Costas Kondylis is the architect.

A building that was part of the development site had recently been sold in an all-cash transaction valued at about $2,500,000, according to Massey Knakal Realty Services.

The home of Supreme Macaroni was a three-story, twenty-five foot wide mixed-use building and the pasta maker had a retail store on the ground floor at the back of which was a "secret" restaurant that was very popular for several decades with people who wanted a step up from the six-foot-long heros served on the other side of the avenue at Manganaro's.

The property is in a C1-7A zoning district, which carries a FAR of 6.02 and has an additional 15,000 buildable square feet, according to David Kalish of Massey Knakal who represented the seller in the deal which took place at $167 per buildable square foot.

The purchaser was represented by Morris Harary of Mehar Holdings, according to Robert Lebenseld, vice president of Assa Properties/JS Industrial Group, the developer.

Mr. Lebenseld told CityRealty.com today that the address of the new project will be 515 Ninth Avenue and he provided CityRealty.com with a rendering of the project, shown at the left.

The area has considerable traffic generated by the nearby Port Authority of New York and New Jersey Bus Terminal and the Lincoln Tunnel as well as the Garment Center and the Theater District. The renaissance of Times Square and the recent development boom along West 42nd Street, however, have significantly changed the demographics of the neighborhood.