Port Authority seeks new developer for Hudson Yard parcels

Dermot Company scrapped plans for tower amid concerns about costs

New York /
Dec.December 02, 2014 03:10 PM

The Port Authority of New York & New Jersey is on the lookout for a new developer for two Hudson Yards parcels — about a month after the Dermot Company backed out.

The properties at 431 West 33rd Street and 448 West 34th Street collectively offer 490,037 buildable square feet. The bus parking lot and vacant land on the sites currently span 37,695 square feet.

The agency released a request for proposals last month with a deadline of Dec. 16.

In late October, the Dermot Company scrapped plans to construct a 500,000-square-foot residential tower at Hudson Yards. The move came after Dermot signed a contract in June to pay up to $175 million for the site, as reported. Dermot’s building would have to cantilever over part of Dyer Avenue, however, making the project more costly than expected.

The Port Authority had picked Dermot to develop the parcels in an auction held in February. [NYO]Mark Maurer


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
Vornado Realty Trust’s Steve Roth,  Daryl Roth and Related Companies CEO Stephen Ross (Getty)
Steven Roth’s wife bets $500K on McGuire for mayor
Steven Roth’s wife bets $500K on McGuire for mayor
Silverstein Properties’ Larry Silverstein and Brookfield’s Brian Kingston (Getty/Illustration by Kevin Rebong for The Real Deal)
Port Authority taps Silverstein, Brookfield to build 5WTC
Port Authority taps Silverstein, Brookfield to build 5WTC
Douglas Durst of the Durst Organization, Port Authority Executive Director Rick Cotton, and Conde Nast CEO Roger Lynch. (Getty)
Condé Nast isn’t paying rent at 1WTC amid lease dispute
Condé Nast isn’t paying rent at 1WTC amid lease dispute
Marble Ridge Capital LP’s Dan Kamensky and Neiman Marcus at Hudson Yards in New York (Getty; Jewish National Fund)
Hedge fund manager pleads guilty to fraud in Neiman Marcus bankruptcy
Hedge fund manager pleads guilty to fraud in Neiman Marcus bankruptcy
Gotham's Joel Picket and David Picket with 538 10th Ave. (Google Maps)
Gotham plans massive mixed-use building on Far West Side
Gotham plans massive mixed-use building on Far West Side
arrow_forward_ios

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

Loading...