[NYguy]

441 9th Ave
Hudson Commons


http://covepg.com/

441 Ninth Avenue was originally an 8-story building built as a warehouse in 1962 and later redeveloped as an office building in 1983. The property was acquired fee simple by Cove and its Joint Venture Partner in a marketed transaction in 2016 from Emblem Health, which owned and occupied the property prior to sale.

The existing building possesses a side core configuration with generous 50,000 RSF plates, 14’4″ slab-to-slab heights and natural light on four sides and an onsite parking garage.

The property is located between 34th and 35th Streets along the entire block front on 9th Avenue, at the heart of the Hudson Yards and Penn Station development. It benefits from superior transportation access, being equidistant between Penn Station and the new 7 train extension servicing Hudson Yards, as well as the Port Authority and the Lincoln Tunnel.

Cove’s business plan is to fully reposition the existing 8 story building and add an incremental 17 stories of rentable office floors above. The fully redeveloped Class A office property, named “Hudson Commons”, will total approximately 700,000 RSF across 25 stories, with floor plates ranging from 16,000 RSF to 50,000 RSF. The contemplated design will incorporate 14’-28’ ceiling heights, 8’3” vision glass in the podium, floor-to-ceiling vision glass in the tower and 14 terraces & balconies. The property is targeting LEED Gold and Wired Platinum certification and aims to offer a full package of amenities including tenant lounges, bike room, ample outdoor space and meeting room & conferencing facilities. The varied and flexible floor layouts are suited to a range of different sized tenants and industries including TAMI (Technology, Advertising, Media and Information), fashion, financial services and legal tenants.

https://www.cpexecutive.com/post/man...ion-financing/