700-foot tower to rise on West 38th Street
Developer pays $115 million for the Hudson Yards site and air rights that will allow him to build his hotel/condo project with Chinese buyers in mind.
Daniel Geiger
April 10, 2014
Quote:
The builder of one of the most exclusive condo buildings in Hudson Yards is about to do his biggest deal yet in the fast-changing West Side neighborhood. Sean Ludwick, who operates the residential development firm Black House, has reached an agreement to acquire a group of parcels on the corner of West 38th Street and 11th Avenue, according to sources.
Mr. Ludwick could not immediately be reached for comment.
Using air rights that he plans to purchase from the city that are available to developers in the Hudson Yards district, Mr. Ludwick will be able to raise a 700-foot tall, 380,000-square-foot hotel and residential tower on the site. All told, Mr. Ludwick, along with an Asian equity firm who he is partnering with to do the deal, will spend about $115 million acquiring the site and the air rights, according to a source.
About 65% of the development will be a hotel and the top floors of the building, totaling about 115,000 square feet, will be high-end residential condos that will target buyers from China.
In recent years, Mr. Ludwick has found considerable success catering to the influx of foreigners looking to acquire homes in the city. At the Soori for instance, an ultra-luxury condo building that Mr. Ludwick is currently building on West 29th Street, he hired an architect from Singapore and is marketing the apartments to buyers from that country.
For his new - and biggest - project, Mr. Ludwick is planning again to use an architect from the nation whose citizens he hopes will buy his condos. In this case it will be a firm based in Shanghai.
The building is just across the street from the newly-renovated Jacob K. Javits Center, making the new tower's hotels one of the closest hostelries to that convention facility.
In addition to the Soori, Mr. Ludwick's firm Black House has built other projects in the Hudson Yards area, including the Americano Hotel.
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“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.
“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.
That article doesn't specify whether it's the north or south corner.
There's nothing on either corner, no glorious outrage to be had.
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“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.
The site has 172,813 square feet of “as-of-right” development potential, and up to 373,275 square feet of development potential through additional incentives, some of which may be offered through the city’s District Improvement Fund.
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Buildings like this will be background filler for Hudson Yards standards. Good news, though.
One really positive thing- Black House (the developers) do first-rate design. This will likely be a very high quality tower with distinctive architecture. They only build A+ buildings.
it will have to be to go up against the mighty corset!
Looks like a specific target in mind...
Quote:
...the top floors of the building, totaling about 115,000 square feet, will be high-end residential condos that will target buyers from China.
For his new - and biggest - project, Mr. Ludwick is planning again to use an architect from the nation whose citizens he hopes will buy his condos. In this case it will be a firm based in Shanghai.
Quote:
Originally Posted by tubeworm
What if the lots to the right were consolidated?
If all of the lots were consolidated, we would have a tower of over a million square feet. Doesn't look like that will happen though.
__________________ 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.
And today Crains NY reports yet another 700+ foot tower is being built a few blocks south, on 35th Street at 10th Avenue. It's like every day we get another one.
Hudson Yards will likely have dozens of 700+ foot towers once the neighborhood is built-out.
And today Crains NY reports yet another 700+ foot tower is being built a few blocks south, on 35th Street at 10th Avenue. It's like every day we get another one.
Hudson Yards will likely have dozens of 700+ foot towers once the neighborhood is built-out.
Amazing times. I made a thread for that just now. Given the area, I'm hoping for a high quality design. Along with this as well. Also yea I agree with tubeworm, the thread should be renamed to 470 11th Ave.
I really love the base but the top seems a bit busy and confusing. none the less its a solid welcomed addition to the skyline just hope it gets tweaked a bit.
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Looks like most of these developments want to include some type of luxury housing. The design has some touches of 425 Park. I'm not sure if we're looking at a blank wall on the east, (and the south?), but I hope that's not the case.
This site could be stretched to accommodate a much larger tower, but it seems the Hudson Yards is too hot for any type of consolidation game. Everyone wants to build now. Nobody has the patience for a 5-10 year assemblage game.
__________________ 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.
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NEW YORK | Hudson Rise (470 11th Ave) | 220 M / 720 FT | FLOORS
I made a thread for that just now. Given the area, I'm hoping for a high quality design. Along with this as well. Also yea I agree with tubeworm, the thread should be renamed to 470 11th Ave. 
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