After rezoning, real estate giants transforming Hudson Square

The Related Companies, Extell Development buying into the area

New York /
Aug.August 28, 2014 11:00 AM

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

Following a rezoning last year to allow for more residential projects in the neighborhood, New York’s real estate heavyweights are now buying in and could transform the area, the New York Post reported.

The Related Companies’ 201-unit mixed-income residential tower at 261 Hudson Street broke ground in January, and Extell Development’s 116-unit co-op building with 25 affordable rentals at 70 Charlton Street is also under way.

The $130 million purchase of 100 Varick Street led by Michael Shvo and the Keystone Group could yield an even larger development, reports the Post. The lot is zoned for a building of up to 280,000 square feet.

The big question looming over Hudson Square is whether Trinity Real Estate, the largest owner of property in the neighborhood, will begin to put its parcels into play, according to the newspaper. [NYP]Tom DiChristopher


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)
Extell lands $690M refinancing package for One Manhattan Square
Extell lands $690M refinancing package for One Manhattan Square
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
Mark Zuckerberg with 55 and 30 Hudson Yards
Meta to cut Hudson Yards office space
Meta to cut Hudson Yards office space
From left: Ilitch Holdings' Chriistopher Ilitch and Related Companies' Stephen Ross with 2250 Woodward Avenue
Ilitch, Ross propose $1.5B Detroit development
Ilitch, Ross propose $1.5B Detroit development
Related Companies' Stephen Ross with One Flagler, 360 Rosemary, and 515 Fern (Getty, Related Companies)
Mapping out Steve Ross’ South Florida empire
Mapping out Steve Ross’ South Florida empire
Mayor Eric Adams, Related Companies' Stephen Ross and Sterling Equities' Fred Wilpon with a rendering of the soccer stadium (The Related Companies, Sterling Equities, Getty)
Related, Sterling to develop Queens soccer stadium, hotel, 2,500 apartments
Related, Sterling to develop Queens soccer stadium, hotel, 2,500 apartments
Extell's Gary Barnett with Brooklyn Point and One Manhattan Square (Getty, One Manhattan Square, GrissJr, CC BY-SA 4.0, via Wikimedia Commons)
Extell lures buyers with condo towers’ mortgage rate perk
Extell lures buyers with condo towers’ mortgage rate perk
From left: Related Companies’ Stephen Ross, Sterling Equities’ Fred Wilpon, and Willets Point in Queens (Getty, Jim.henderson/Public domain - via Wikimedia Commons)
Related, Sterling file first plans for Willets Points housing
Related, Sterling file first plans for Willets Points housing
arrow_forward_ios

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

Loading...