NEW YORK | 2 Hudson Square | 420 FT | 27 FLOORS

[chris08876]

Trinity looks to sell leasehold for Hudson Square development site

Trinity Real Estate is looking to ground lease one of its Hudson Square development sites in a deal that could be worth $180 million or more.

The company, the real estate arm of Trinity Church, put the development site at the corner of Canal Street and Sixth Avenue, known as 2 Hudson Square, on the market, Crain’s reported.

CBRE’s Darcy Stacom has the listing.

Trinity is offering control of the property through a long-term lease – most likely for a term of 99 years – where an investor could develop roughly 300,000 square feet of residential space.

It wasn’t clear what Trinity is valuing the site at in terms of upfront payments or rent. But one source told Crain’s the leasehold position could be valued at $180 million or more.

The city unlocked the development potential through a 2013 rezoning initiated by Trinity.

Trinity recently struck a deal to ground lease the site at 4 Hudson Square for $650 million to the Walt Disney Co., which plans on building a new headquarters after selling the Upper West Side offices of ABC to Silverstein Properties for $1 billion.

In 2015, Trinity sold a 44 percent stake in a 75-year ground lease controlling its 5 million-square-foot Hudson Square portfolio to the Norwegian sovereign wealth fund Norges for $3.55 billion.

The development sites at 2 and 4 Hudson Square were not part of that portfolio.

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[chris08876]

This is the other development site, 4 Hudson.

Lot Size: 86,025 SF
An entire block located in the middle of Hudson Square is an assemblage of five tax parcels and provides a unique development opportunity. The site is currently improved with several mixed-use buildings and contains a total of 86,025 square feet zoned for the Special Hudson Square Zoning District. The zoning permits residential development with ground level retail at a maximum residential floor area ratio (FAR) of 9.0 times the lot size. This base FAR will be bonusable to 12.0 times the lot size with inclusionary housing. 304 Hudson Street, an existing office building must remain commercial space, but can be increased in size to reach 9.0 FAR from an existing 6 FAR.

Credit: trinitynyc

[chris08876]

Renderings Revealed For SHoP Architects-Designed Skyscraper At 2 Hudson Square, In Lower Manhattan

Today, YIMBY has the scoop and exclusive reveal of official renderings for the 450,380-square-foot mixed-use building coming to 2 Hudson Square. Located at the southeast corner of the neighborhood, the lot will soon house a public school with an office tower above for boutique finance and tech tenants. The 465-foot-tall, 26-story development is a joint venture between Taconic Investment Partners and Nuveen, after the pair acquired the land in a 99-year lease from Trinity Real Estate, the real estate branch of Trinity Church. SHoP Architects is responsible for the design.

The 32,699-square-foot plot is located at 76 Varick Street with Grand Street to the north, Varick Street to the west, Canal Street to the south, and Sixth Avenue to the east. Directly adjacent to the site is Duarte Square and the Canal Street subway station, serviced by the 1 train, is steps away.

Renderings reveal a textural façade of steel and floor-to-ceiling glass. Mullions of glazed terracotta separate the narrow opaque glass panels all the way up the tower, which features a couple landscaped terraces on setbacks.

In the podium of 2 Hudson Square, the school with integrated community facilities will comprise 77,100 square feet over five floors. The school will have 444 seats for elementary students from pre-kindergarten through fifth grade. Entry will be on the building’s Duarte Square Park frontage and a 3,000-square-foot outdoor playground will be positioned on the fifth floor. There will be 8,890 square feet of retail space on the ground floor with frontage along both Canal and Varick Streets and facing Duarte Square Park.

2 Hudson Square will have 331,910 square feet of Class A office space, with the majority located in the tower. The podium will have four stories of office space on floors seven through ten, each measuring about 19,000 square feet. Floors nine and ten will have outdoor terraces. The 11th through 25th levels will have approximately 16,000 square feet apiece and 16-foot-high ceilings. There is a private outdoor terrace for the penthouse tenant as well as a shared 2,000-square-foot terrace for all commercial tenants on the rooftop, with unobstructed views to the south and east. Mechanicals will occupy the 26th floor as well as the sixth floor, along with some office space.

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NYY

[chris08876]

Rename title to: NEW YORK | 2 Hudson Square | 465 FT | 26 FLOORS

[NYguy]

Nice for the area, joining Disney, and right at the #1 subway stop.

[NYguy]

Nice for the area, joining Disney, and right at the #1 subway stop.

[Submariner]

Meh...the site deserves, but this is okay I suppose.

[Phil McAvity]

^The site deserves.....?

[chris08876]

It looks okay IMO.

[Submariner]

Originally Posted by Phil McAvity

^The site deserves.....?

better*...not sure how I forgot to add that in!

[Phil McAvity]

probably because your brain works way faster than you type. I omit words sometimes too

[chris08876]

SHoP Architects’ 26-Story Two Hudson Square Awaits Construction In Hudson Square, Manhattan

Construction preparations have yet to begin at Two Hudson Square, site of a 465-foot-tall mixed-use project in Hudson Square. Alternately addressed as 76 Varick Street, the vacant 32,699-square-foot property will give rise to a 26-story, 450,380-square-foot building designed by SHoP Architects and developed by a joint venture between Taconic Investment Partners and Nuveen, which acquired the land in a 99-year lease from Trinity Real Estate. The trapezoidal plot is bound by Canal Street to the south, Varick Street to the west, Grand Street to the north, and Sullivan Street and Duarte Square to the east.

Recent photos show green construction boards and metal gates surrounding the property, which is occupied by small wooden and metal structures that remain from past food and retail venues that made use of this rare open-air space.

The main rendering depicts a conventionally shaped massing with the podium maintaining a fairly rectangular volume despite the unusual shape of the plot. Landscaped setbacks are shown on the fifth, ninth, and 11th floors with a children’s playground located on the fifth-floor outdoor space. Most of the main tower itself appears uniform with structurally repetitive floor plates behind a curtain wall of floor-to-ceiling glass with dark terracotta mullions. A final upper setback creates an angled wall just below the flat roof parapet and what looks like a small mechanical extension on the northern end of the pinnacle.

Housed inside will be a 444-seat public school for pre-kindergarten through fifth grade students with integrated community facilities spanning 77,100 square feet over five floors. Ground-floor entryways to the school will be positioned east toward Duarte Square. Class A office space is planned to occupy floors seven through 25, with the podium levels measuring 19,000 square feet per floor and the upper stories spanning 16,000 square feet apiece with 16-foot-high ceilings. There will be room for a dedicated private outdoor space for the penthouse tenant, along with a 2,000-square-foot communal rooftop terrace. The mechanical equipment would rest on the 26th story and parts of the sixth floor. The property will also feature 8,890 square feet of ground-floor retail space facing Canal and Varick Streets and Duarte Square Park.

Two Hudson Square is aiming for LEED Platinum certification for the core and shell construction, as well as WELL Platinum certification for the design and performance of the commercial office space. Taconic Investment Partners and Nuveen Real Estate secured $408 million in construction financing in December 2019.

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[JMKeynes]

Beautiful!

[chris08876]

Permits Filed For 76 Varick Street In Hudson Square, Manhattan

Permits have been filed for a 27-story mixed-use building at 76 Varick Street in Hudson Square, Manhattan. Also known as Two Hudson Square, the lot is bound by Canal Street to the south, Varick Street to the west, Grand Street to the north, and Sullivan Street and Duarte Square to the east. The 450,380-square-foot building is a joint venture between Taconic Investment Partners and Nuveen.

The proposed 420-foot-tall development will yield 326,974 square feet for commercial space. The building will house a 444-seat public school for pre-kindergarten through fifth grade students with integrated community facilities spanning 77,100 square feet over five floors. Class A office space will span floors seven through 25, and there will be 8,890 square feet of ground-floor retail. The concrete-based structure will also have a cellar and two enclosed parking spaces.

SHoP Architects is listed as the architect of record.

Demolition permits will likely not be needed as the lot is vacant. An estimated completion date has not been announced.

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[Busy Bee]

SHaRP