Hidrock picks up Lower Manhattan development site for $38M

Developer is mulling plans for a residential project, sources say

112 Liberty Street
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.

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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.