CBRE Group markets Hudson Square office building

Jan.January 25, 2012 10:00 AM

CBRE Group has landed another assignment to sell a major office building. According to the New York Post, Young Woo & Associates and San Francisco-based Bristol Group have selected CBRE’s executive vice chairmen, Darcy Stacom and William Shanahan, to market the 10-story, 240,000-square-foot property at 325 Hudson Street in Hudson Square.

The brokers expect a buyer to pay about $500 per square foot for the property, which the current ownership gut-renovated in 2001. The building is 95-percent leased, and houses Verizon, SUNY Empire College and Frog Design, among others.

“It’s sexy,” Stacom said. “It’s the right size deal with office and technology tenants.”

The property is fee simple and clear of debt, according to the brokers.

Shanahan and Stacom recently negotiated contracts for the sales of 10 East 53rd Street and 33 Maiden Lane, the Post noted, and are working on finding a buyer for 4 New York Plaza. [Post, 1st item]

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