The board of the Hudson River Park Trust was slated to announce today which developer it has selected for a renovation plan at Pier 57. The project aims to install cultural attractions in a 375,000-square-foot building that occupies the entire pier. One developer, Youngwoo and Associates, has garnered massive support from the community. Manhattan Community Board 4 voted in favor of Youngwoo’s proposal, which includes plans for a concert venue, galleries and an auction house.

The AIG buildings — 70 Pine Street, which might become a landmark, and
72 Wall Street — sold for less than $140 million, under $100 a foot,
according to the Post. It was announced yesterday that Youngwoo &
Associates and Kumho Investment Bank agreed to buy the buildings, AIG’s
former headquarters, which total 1.4 million square feet. Darcy Stacom
and Bill Shanahan of CB Richard Ellis represented AIG in the marketing
of the two buildings, which are connected by a skyway. Sources said
Youngwoo has a mixed-use plan for the buildings. [more]