Real estate development firm Black House has closed on Hudson Yards parcels and air rights for $115 million to construct a 380,000-square-foot hotel and condominium tower.
The land is located at the corner of West 38th Street and 11th Avenue, on which the proposed building would rise 700 feet. Black House partnered with an unnamed Chinese equity firm to acquire the site. Sixty-five percent of the project will comprise the hotel and about 115,000 square feet will be sold as residential condos. Last year, the developer secured a deal to borrow over $82 million to finance two new ultra-luxe developments on West 29th Street, as previously reported. Ludwick is no longer involved with that project, known as Soori High Line at 522 West 29th Street.
In February, Sean Ludwick, founder and managing partner of Black House, was accused of entering his ex-girlfriend’s Tribeca home and drawing graphic images on artwork he had made. [Crain’s] — Mark Maurer