NEW YORK CITY—Ivanhoé Cambridge and Callahan Capital Properties jointly have acquired a 49% interest in 330 Hudson St. for approximately $150 million through a joint venture with affiliates of Beacon Capital Partners.
330 Hudson is a 16-story, 467,000-square-foot Class-A office building that has undergone a redevelopment, including the addition of eight new column-free tower floors on a fully renovated historic, stone-and-brick base building.
Located in the Hudson Square neighborhood of Midtown South, 330 Hudson features 11-to-17-foot ceiling heights, open and flexible floor plans for collaborative work, exposed brick and beam elements and expansive window lines for natural light, making it ideally suited to technology and TAMI sector tenants.
“330 Hudson is a leading example of the creative work environment that is increasingly desirable to the growing technology and media industries in Hudson Square, which is one of New York's most promising urban live/work neighborhoods,” says Adam Adamakakis, EVP, US Investments, IvanhoéCambridge.
Adds Tim Callahan, CEO of Callahan Capital Properties, “330 Hudson exemplifies our strategy to build a high-quality office platform concentrated in top markets around the country. With its prime location and unique attributes, 330 Hudson has a very strong competitive position and we look forward to working with Beacon to further enhance value as we complete the lease up of the property.”
This transaction is Ivanhoé Cambridge's fifth acquisition made with Callahan Capital Properties, bringing the partners' US office platform investments to more than $2.1 billion.
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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.
