Hidrock picks up Lower Manhattan development site for $38M

Developer is mulling plans for a residential project, sources say

Mar.March 05, 2018 11:20 AM

112 Liberty Street

Hidrock Properties bought a development site just south of the World Trade Center for $38 million, property records show.

Hidrock paid $38.5 million for the site at 112 Liberty Street, which is composed of a retail condominium and a residential condo with 13 units, records filed with the city Friday show.

Representatives for Hidrock could not be immediately reached for comment, but sources told The Real Deal that the company is contemplating a residential development on the site.

Hidrock earlier last year sold its Courtyard New York Downtown Manhattan/World Trade Center hotel to Union Investment Real Estate GmbH, the property arm of Germany’s DZ Bank Group, for $206 million.

In Park Slope, the company recently received approval from the Landmarks Preservation Commission for its plans for a retail project next to the revamped Pavilion cinema.

Related Articles

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

LA mayor orders a moratorium on commercial evictions

Mayor Bill de Blasio and Westchester Square Hospital in the Bronx (Credit: Lev Radin/Pacific Press/LightRocket via Getty Images; Google Maps)

New York City seeking sites for coronavirus triage centers

Morris Moinian and 1150 6th Avenue (Credit: Noam Galai/Getty Images, Google Maps)

Morris Moinian to sell site of stalled hotel project