Hidrock seeking up to $1,100 a foot with Garment District office condo conversion

The 12-story Garment District building will contain commercial floor plates up to 6,600 sf.

TRD NEW YORK /
Apr.April 24, 2019 10:45 AM
Hidrock Properties CEO Abie Hidary and 35 West 36th Street (Credit: Twitter and Google Maps)

Hidrock Properties CEO Abie Hidary and 35 West 36th Street (Credit: Twitter and Google Maps)

Hidrock Properties is planning a conversion of a 12-story loft building in the Garment District to office condominiums.

The family firm, which owns multiple buildings in the neighborhood, will convert 35 West 36th Street, a 58,000-square-foot pre-war building, according to the New York Post.

The building will contain office floor plates between 3,300 and 6,600 square, and condos will be priced at $875 a square foot on the lower levels to $1,100 a square foot on upper floors.

Some of the floors are still occupied by office tenants whose leases expire in the next few years, the Post reported.

Rudder Property Group is pre-marketing the units.

Hidrock reportedly secured a $32 million for the building recently from Ladder Capital Finance.

Hidrock, owned by the Hidary family, has multiple buildings in the Garment District, including Embassy Suites by Hilton at 60 West 37th Street. In recent years it has also sold off a couple of buildings in the neighborhood, including 53-57 West 36th Street and 65 West 36th Street. [NYP] — David Jeans 


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