Newsletters

Far West Office Trades to Cove, Baupost

NEW YORK CITY—Founded by managing partner Kevin Hoo, Cove also acquired a Lower Manhattan office tower for $225 million earlier this year., along with the EmblemHealth offices on the Far West Side.

By Paul Bubny | paulbubny | Updated on December 14, 2016

Kevin Hoo is managing partner with Cove Property Group.

NEW YORK CITY—EmblemHealth has sold its office property at 441 Ninth Ave. to a partnership of Kevin Hoo’s Cove Property Group and the Baupost Group. The partnership paid $330 million for the 423,000-square-foot property, which it plans to expand and redevelop.

Real Estate Alert first reported this past August that 441 Ninth was under contract to the Cove/Baupost partnership. The health insurer currently occupies the eight-story property in its entirety, but is expected to vacate in 2017. A vertical expansion that will add 150,000 square feet is in the works for 441 Ninth, which is located near Related Oxford’s Hudson Yards mega-project and Brookfield’s Manhattan West development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Resource Center

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

This comprehensive eBook uncovers AI's best-kept-secret - clean, trusted, visible, and validated data. Download now to learn why real estate organizations need to build a solid data foundation to differentiate themselves and reap the rewards of AI.

eBook

Sponsored by Cherre

Whoever Wins Data, Wins AI

This comprehensive eBook uncovers AI's best-kept-secret - clean, trusted, visible, and validated data. Download now to learn why real estate organizations need to build a solid data foundation to differentiate themselves and reap the rewards of AI.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.