Hidrock picks up Lower Manhattan development site for $38M

Developer is mulling plans for a residential project, sources say

TRD New York /
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.

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