Posted Oct 2, 2018, 2:53 PM
|
 |
New Yorker for life
|
|
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,121
|
|
https://www.bloomberg.com/news/artic...-hudson-square
Turning an Old Manhattan Freight Terminal Into a Sleek Office Tower—for Just $2 Billion
By Natalie Wong
October 1, 2018
Quote:
Oxford Properties Group is spending about $2 billion to transform an old freight terminal on Manhattan’s West Side into a 12-story office building, according to a person with knowledge of the plans.
Oxford, the real estate unit of Canadian pension fund OMERS, and Canada Pension Plan Investment Board bought the property from Westbrook Partners LLC and Atlas Capital Group LLC in January for $700 million, Dean Shapiro, the Toronto builder’s head of U.S. development, said in an interview. That sum is part of the total investment, said the person, who asked not to be identified because the matter is private.
The project, one of four Oxford is working on with Canada Pension Plan, involves turning 1.3 million square feet (120,000 square meters) of industrial space at Hudson Square, near Greenwich Village, into what Shapiro called “the modern workplace,” an environment that encourages people to meet, mingle and work together.
|
__________________
NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
|