NEW YORK CITY-Interest in Hudson Yards and the surrounding area continues to mushroom, with developers other than Related Cos. stepping up to the plate.
HFF has announced it has closed the $35 million sale of a 9,875-square-foot development site in the Hudson Yards neighborhood. HFF worked on behalf of the seller, a subsidiary of Lehman Brothers Holdings Inc. New York-based real estate developer David Marx purchased the land parcel for $35 million.
The development site is situated on 9,975 square feet at 448-452 11th Ave. and 556 W. 37th St. in the Hudson Yards neighborhood. The site is directly across the street from the Jacob K. Javits Center, and can accommodate residential, retail, hotel, office or entertainment uses.
The HFF team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz and managing directors Jeffrey Julien and Kevin O'Hearn.
It was not yet revealed what Marx plans to do with the site. “No immediate development plans for the site have been announced,” says Scandalios.
The 26-acre Hudson Yards project is slated to inlcude over 13 million square feet, including 750,000 square feet of retail space, vast office space and about 5,000 residences.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
