Trinity Real Estate is ground leasing four office buildings in Hudson Square.
The 99-year lease on the properties — for which proposals were due last week — could fetch $1.25 billion or more as rents have skyrocketed to the mid-$70s in the area, according to the New York Post and Real Estate Alert.
CBRE’s Michael Laginestra, David Maurer-Hollaender, Michael Geoghegan and Joan Meixner are marketing the leases.
Trinity’s four buildings in Hudson Square — which was rezoned in 2013 in part to help attract more creative and technology tenants to the area, but also to create more residential development — are about 98 percent occupied, according to the Post. The 1.2 million-square-foot One Hudson Square, located between Canal, Varick and Watts streets as well as a Holland Tunnel entrance, is the largest of the four.
The other three buildings are 200 Hudson Street — a 12-story building that spans 387,000 square feet — as well as the 401,000-square-foot 205 Hudson Street and 12-16 Vestry Street, which is a seven-story, 61,000-square-foot property that was built in 1892, the newspaper reported.