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.

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 


Related Articles

arrow_forward_ios
Blackstone's Ken Caplan (iStock; Blackstone)

Industrial now 36% of Blackstone’s RE portfolio

Industrial now 36% of Blackstone’s RE portfolio
Almanac Realty Investors managing director Matthew Kaplan (Almanac Realty; iStock)

Workforce housing investor gets $320M boost

Workforce housing investor gets $320M boost
Corcoran to sublet 50K sf in IBM Building

Corcoran to sublet 50K sf in IBM Building

Corcoran to sublet 50K sf in IBM Building
 Robert Morse, executive chairman of Bridge Investment Group, one of the major Opportunity Zone investors focusing on real estate.  (Bridge, Stanford)

Opportunity Zone investments got a boost in 2020

Opportunity Zone investments got a boost in 2020
333 Johnson Avenue with Royalton Capital’s Jin Lee, Sciame Construction's Frank Sciame and Normandy Real Estate Partners' Finn Wentworth (Royalton Capital, Sciame, Normandy)

Normandy sued by former partners for hiding Netflix deal

Normandy sued by former partners for hiding Netflix deal
Union Square Park to gain 2 acres in $100M plan (Getty_

Union Square Park to gain 2 acres in $100M plan

Union Square Park to gain 2 acres in $100M plan
Fabric co-founder, CEO Elram Goren (Getty, Elram Goren via LinkedIn)

Startup wants to bring “micro-warehouses” to vacant retail

Startup wants to bring “micro-warehouses” to vacant retail
Security around Trump Tower to be reduced after 45th POTUS leaves office. (Getty, The Trump Organization)

Fifth Avenue will look different after Trump leaves office

Fifth Avenue will look different after Trump leaves office
arrow_forward_ios

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

Loading...