Phillips Nizer represented Mid-Town Development in the transaction. The law firm's real estate partners Edward Imperatore and Marc Landis, litigation partner George Berger, real estate counsel Steven Rabinowitz and Peter Scandariato and litigation counsel Jeffrey Shore worked on the deal.

In April 2014, Tishman Speyer acquired a full-block assemblage stretching from West 34th to West 35th Streets and from 10th Avenue to Hudson Park and Boulevard. Those properties are set to become a 2.85-million-square-foot office tower, known as The Spiral.s

“New York City's position as a global business center is as strong as ever, and Hudson Yards is rapidly emerging as one of its main engines for further economic growth,” says Tishman Speyer CEO Rob Speyer. “As evidenced by our commitment to develop more than four million square feet of premium commercial space in the area, we are convinced that Manhattan's far west side is well on its way to becoming the world's most modern, dynamic and sustainable urban neighborhood.”

Rezoned in 2005, the Hudson Yards district—bounded by West 42nd Street, 8th Avenue, West 30th Street and Hudson River Park—allows for 26 million square feet of office space, 20,000 units of new housing, two million square feet of retail space and three million square feet of hotels.

In addition, the neighborhood has been enhanced by the recently completed extension of the number 7 subway line, a new Hudson Park and Boulevard and completion of the final phase of the High Line elevated park.

NEW YORK CITY—Tishman Speyer has assembled its second development site in the Hudson Yards district of Midtown.

The company has picked up the adjacent properties of 434-444 11th Ave., for nearly $164 million, from Mid-Town Development Limited Partnership; and 550 W. 37th St. from 550 Associates. The financial terms of the second transaction were not available at press time.

The sites—along with the ability to purchase additional development rights available to Hudson Yards district developers— offer Tishman Speyer the opportunity to develop a 1.3 million square foot office tower with street level retail.

Fried Frank provided legal counsel to Tishman for its acquisition of the fee interest and development rights attributable to 434-444 11th Ave. The team of attorneys included real estate partners David Karnovsky and Robert Sorin; real estate litigation partner Janice Mac Avoy; real estate associates Theodore Clement, Hanna-Ruth Gustafsson, Chad Sandler and Anthony Shaskus along with litigation associate Sujata Jhaveri and Samuel A. Mathias.

Phillips Nizer represented Mid-Town Development in the transaction. The law firm's real estate partners Edward Imperatore and Marc Landis, litigation partner George Berger, real estate counsel Steven Rabinowitz and Peter Scandariato and litigation counsel Jeffrey Shore worked on the deal.

In April 2014, Tishman Speyer acquired a full-block assemblage stretching from West 34th to West 35th Streets and from 10th Avenue to Hudson Park and Boulevard. Those properties are set to become a 2.85-million-square-foot office tower, known as The Spiral.s

“New York City's position as a global business center is as strong as ever, and Hudson Yards is rapidly emerging as one of its main engines for further economic growth,” says Tishman Speyer CEO Rob Speyer. “As evidenced by our commitment to develop more than four million square feet of premium commercial space in the area, we are convinced that Manhattan's far west side is well on its way to becoming the world's most modern, dynamic and sustainable urban neighborhood.”

Rezoned in 2005, the Hudson Yards district—bounded by West 42nd Street, 8th Avenue, West 30th Street and Hudson River Park—allows for 26 million square feet of office space, 20,000 units of new housing, two million square feet of retail space and three million square feet of hotels.

In addition, the neighborhood has been enhanced by the recently completed extension of the number 7 subway line, a new Hudson Park and Boulevard and completion of the final phase of the High Line elevated park.