The Real Deal New York

607 Hudson StreetFrom the July issue: While scores of developers, partners and lenders took each other to court during the downturn — and tried to squeeze each other for more money — one Manhattan buyer and seller managed to keep the peace despite the economic roller coaster ride. The deal involved 607 Hudson Street, a highly coveted spot at the corner of 12th Street in the West Village. The site, which was occupied by the non-profit Village­Care’s nursing home, went into contract in 2007. It didn’t close for almost four full years, but the deal emerged from the downturn with only minor scrapes.
Real estate insiders said the four-year contract was the longest purchase agreement in a straightforward real estate transaction they could recall. [more]