The Real Deal New York

Chinese investor Kuafu files Hudson Yards condo-hotel plans

Developers paid $115M for West 38th St. property and air rights

September 22, 2014 11:10AM

hudson-yards

462-470 11th Avenue renderings

Plans have been filed with the Department of Buildings for a 47-story condo-hotel tower in Hudson Yards.

New York City-based Chinese private equity firm Kuafu Properties, Siras Development and BlackHouse Development chief Sean Ludwick partnered in June on the project at 462-470 11th Avenue, near West 38th Street, according to documents obtained by The Real Deal. A spokesperson for Siras, led by former BlackHouse partners Saif Sumaida and Ashwin Verma, said last week that Ludwick is no longer a development partner. Ludwick, however, denied this. Documents show him as a partner.

The Hudson Rise Hotel is set to hold 242 hotel rooms, 47 condos, and 108 condo-hotel rooms that must be rented out for most of the year, according to permits cited by New York YIMBY. Archilier Architects is handling design.

The partners closed on the 14,000-square-foot former parking lot and air rights for a total of $115 million earlier this year, as previously reported. Ludwick said in June that there were plans for the tower to rise 64 stories. [NY YIMBY]Mark Maurer

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