The Real Deal New York

Posts Tagged ‘hudson square’

  • NorgesJasonPizer

    From left: Trinity’s Jason Pizer, 1 Hudson Square and Norges’ Yngve Slyngstad

    Trinity Real Estate and Norway’s sovereign wealth fund quietly signed a binding contract late last week to partner on the church’s 11-building Hudson Square portfolio, in a massive deal that values the real estate at $3.55 billion.

    Norges Bank Investment Management entered into contract Nov. 20 to pay $1.56 billion for a 44 percent share in a 75-year ownership of Trinity’s portfolio, the fund said. The deal is expected to close by the end of the year. [more]

  • Kevin Lalezarian

    From left: Kevin Lalezarian and a proposed rendering of 100-102 Chartlton Street in Hudson Square

    Lake Success, N.Y.-based Lalezarian Properties filed a permit application to build a 61-unit rental building at 100-102 Chartlton Street in Hudson Square.

    The new 59,000-square-foot building between Greenwich and Hudson Streets will replace two four-story rental buildings at the site.

    All the units will be rentals, Kevin Lalezarian, the firm’s owner and president, wrote in an email. [more]

  • What is Trinity Real Estate selling?

    August 21, 2015 02:52PM

    From left: Jason Pizer, 1 Hudson Square, 225 Varick (top right) and 205 Hudson

    In 1705, England’s Queen Anne donated 215 acres of prime Manhattan farmland to Trinity Church. In the years since, Trinity sold off a large chunk of those holdings, but still owns a sizable portfolio of prime commercial real estate concentrated in Hudson Square. And it’s now in play.

    Earlier this month, Trinity took bids for a 5 million-square-foot, 11-building portfolio in Hudson Square. Suitors include some of the city’s biggest real estate players such as SL Green Realty and Vornado Realty Trust. Sources familiar with the offering told The Real Deal that Trinity offered a 49 percent stake on 75-year leaseholds for the properties, and said the stake could go for about $3 billion.

    While the bidders await news of the prize, TRD took a look at exactly what’s up for grabs. [more]

  • JasonPizerDarcyStacom

    From left: Jason Pizer, 1 Hudson Square and Darcy Stacom

    Trinity Real Estate is rethinking its plans to ground lease four valuable Hudson Square buildings in a deal that was poised to net the church up to $1.5 billion. [more]

  • 70 Charlton Street

    Renderings of 70 Charlton Street and Gary Barnett (inset)

    Extell Development has unveiled renderings for its residential development at 70 Charlton Street in Hudson Square, with the project adopting a two-tower configuration. [more]

  • Trinity Church Hudson Square

    From left: 12-16 Vestry Street and One Hudson Square

    Trinity Real Estate is ground leasing four office buildings in Hudson Square.

    The 99-year lease on the properties — for which proposals were due last week — could fetch $1.25 billion or more as rents have skyrocketed to the mid-$70s in the area, according to the New York Post and Real Estate Alert. [more]

  • From left: Bill de Blasio in the Bounce Exchange office in 2013 and the New York Times Building

    From left: Bill de Blasio in the Bounce Exchange office in 2013 and the New York Times Building

    Tech company Bounce Exchange inked a lease to take nearly 31,000 square feet at the New York Times Building. [more]

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  • MAT HEDshot_02_058

    From left: Mary Ann Tighe, 850 Third Avenue and Peter Turchin

    Despite a low availability rate, Manhattan’s East Side office submarket saw asking rents drop last year while prices in surprising niche neighborhoods such as Hudson Square are booming.

    In fact, asking rents are now higher in Hudson Square, and the explanation, according to CBRE executives, is that office leasing is no longer about “location, location, location” as much as it is about product. [more]

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  • 537 Greenwich Street

    535 Greenwich Street

    UPDATED, Dec. 22, 3:27 p.m.: Ever since the 2013 rezoning of Hudson Square, the once-quiet commercial neighborhood has been a hotbed of residential development. But now the most unusual building yet could be coming to the rapidly changing area. [more]

  • The view from One Vandam, one of the buildings going up on the western edge of Soho.

    The view from One Vandam, one of the buildings going up on the western edge of Soho.

    From the December issue: The southernmost leg of Sixth Avenue has been more of a place to pass through than to visit since the 1920s, when the city blasted subway lines through parts of MacDougal and Sullivan streets, then covered the tracks with a new roadway. And developers may have been dissuaded from doing anything about that. The massive infrastructure project left the road, formally known as the Avenue of the Americas, lined with castaway lots whose odd shapes discouraged construction. [more]

  • From left: 108 Charlton Street and Kong Kee Food Corp.

    From left: 108 Charlton Street and Kong Kee Food Corp. in Long Island City

    Real estate investment firm Cape Advisors bought a Hudson Square warehouse for $26 million from longtime owner Yuet Tom Lam Kong of the Long Island City-based Kong Mee Food Corp., according to property records filed with the city today.   [more]

  • Trinity Church

    Trinity Church at 74 Trinity Place in Lower Manhattan

    Trinity Real Estate is branching out.

    The Jason Pizer-led real estate arm of the Episcopal Trinity Church is planning to build four luxury residential towers in Hudson Square as well as one partially residential tower close to Wall Street, according to Crain’s. Trinity oversees roughly 5.5 million square feet of office space in the city. [more]

  • ODA's Eran Chen and IGI CEO Eldad Blaustein with characters from 15 Renwick

    ODA’s Eran Chen, IGI CEO Eldad Blaustein and CORE’s Shaun Osher with characters from 15 Renwick

    Funky fashions and classic characters were on hand for the launch of 15 Renwick Street, hosted at the building’s sales center at 505 Greenwich Street. [PHOTOS]

  • A Cadillac CTS Sedan and 330 Hudson Street

    A Cadillac CTS Sedan and 330 Hudson Street

    Cadillac, General Motors’ luxury auto brand, is nearing a deal for 20,000 square feet of office space in Hudson Square. [more]

  • 219 Hudson Street

    Rendering of Hudson Square Hotel at 219 Hudson Street

    Medgar Evers College’s campus redevelopment in Crown Heights and two former Italian soccer stars’ Hudson Square Hotel are among the latest projects to receive a new batch of mind-blowing renderings in the past week or so. Click here for a slideshow and more.

  • squarespace

    225 Varick Street and Squarespace

    Website builder Squarespace is close to signing a lease for 100,000 square feet at Trinity Real Estate’s 225 Varick Street in Hudson Square.

    The tenant is expected to pay in the mid-$60s per square foot for the three-floor space, covering the 10th, 11th and 12th floors. Merrill Corp., the last printing house in the neighborhood, formerly occupied the space, which it used for language translation services. [more]

  • Related's Jeff Blau and 261 Hudson Street

    Related’s Jeff Blau and 261 Hudson Street

    Long considered a secondary neighborhood to Soho to the east and Tribeca to the south, Hudson Square is having its moment. [more]

  • From left: Paolo Maldini, Hudson Square Hotel rendering and Christian Vieri

    From left: Paolo Maldini, Hudson Square Hotel rendering and Christian Vieri

    A pair of retired Italian soccer stars reportedly have plans to develop a hotel at the corner of Hudson and Canal streets. [more]

  • hudson-square

    Hudson Square Connection and Signe Nielsen

    The Hudson Square Connection Business Improvement District is seeking suggestions for part of its $27 million plan to transform the city’s former printing district.

    At a public discussion on Thursday evening, the BID and architecture firm Mathews Nielsen Landscape Architects hope to solicit opinions from the Lower Manhattan community on its plans to redesign Soho Square, which will serve as a gateway to a revamped stretch of Spring Street. [more]

  • OurLadyVilniusExt_tmb

    Our Lady of Vilnius

    Condo developer Agime Group LLC has plunked down nearly $31 million for adjacent lots in the Hudson Square area – including a shuttered church that Gary Barnett’s Extell Development bought last year. According to property records, Agime paid Extell $18.4 million for the lot at 568 Broome Street, site of Our Lady of Vilnius, which Extell acquired last year for $16.5 million. Agime also bought the adjacent walkup at 572 Broome Street for $12.3 million from seller Linda Sousa, according to property records. Sousa inherited the brick walkup from her aunt and uncle, who bought the building 1955 for $18,500, according to a 2006 article in The New York Times. [more]

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