Trinity signs 99-year lease at 330 Hudson 

TRD New York /
Jun.June 09, 2011 06:14 PM

Trinity Church Real Estate has signed a 99-year lease with an affiliate of Beacon Capital Partners for an entire office building at the stalled development site at 330 Hudson Street, between Charlton and Vandam streets, according to Crain’s, marking Beacon’s second investment in New York City in two months.

Last month, Beacon signed on to buy 70 to 80 percent of 195 Broadway from L&L Holding and GE Pension Trust.

The terms of Beacon’s deal with Trinity were not disclosed.

A nearly year-long legal battle between Trinity and Tribeca Associates ended last year with Trinity taking back the lease on the site. Trinity granted Tribeca a 99-year lease on the space four years ago, but construction stalls led to threats of foreclosure from Trinity.

Trinity has obviously come to a more amicable agreement with Beacon.

The Boston-based firm is planning a 350,000-square-foot office building for the site, including 20,000 square feet of retail space.
“With several new hotels in the area, the current proposed office/retail mix is clearly the most attractive and compelling development option,” Jason Pizer, president of Trinity, said.

Trinity had been negotiating for British media company Pearson to move into the building, Crain’s reported. [Crains’]


Related Articles

arrow_forward_ios
From left: L&L Holding Company's 425 Park Avenue with CEO David Levinson, Citadel Securities founder Ken Griffin, and Vornado Realty Trust’s 350 Park Avenue with CEO Steve Roth (Credit: (Photo by Michael Kovac/Getty Images; L&L Holding Company; Vornado)

Citadel Securities expands nearby lease while waiting on 425 Park

Citadel Securities expands nearby lease while waiting on 425 Park
 561 Greenwich Street (Credit: Google Maps)

Trinity Church to construct another Hudson Square office tower

Trinity Church to construct another Hudson Square office tower
From left: 295 Fifth Avenue, 3 World Trade Center, 50 Rockefeller Plaza (Credit: Google Maps, Wikipedia)

These were NYC’s top office leases in October

These were NYC’s top office leases in October
575 Fifth Avenue (Credit: Google Maps)

Beacon Capital lands $300M refinancing for Fifth Ave building

Beacon Capital lands $300M refinancing for Fifth Ave building
Unqork CEO Gary Hoberman and 114 Fifth Avenue (Credit: Google Maps)

Tech company subleases 40K sf at pricey space on Fifth Ave

Tech company subleases 40K sf at pricey space on Fifth Ave
With big lease expansion, Citadel kills rumors it’s spooked by 425 Park delays

With big lease expansion, Citadel kills rumors it’s spooked by 425 Park delays

With big lease expansion, Citadel kills rumors it’s spooked by 425 Park delays
Allianz looks to take 30% stake in massive Terminal Stores deal

Allianz looks to take 30% stake in massive Terminal Stores deal

Allianz looks to take 30% stake in massive Terminal Stores deal
Inside L&L, Normandy’s plan to turn Terminal Stores into a $1.8B property

Inside L&L, Normandy’s plan to turn Terminal Stores into a $1.8B property

Inside L&L, Normandy’s plan to turn Terminal Stores into a $1.8B property
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...