Avdoo has finalized its $63 million acquisition of 68 King Street, the site of a forthcoming residential building in Hudson Square, Manhattan. The developer secured the property with the help of a $40 million loan from Valley National Bank and is planning to construct a 200,000-plus-square-foot structure. The project would utilize more than 125,000 square feet of development rights, including air-rights deals and a transit improvement-related bonus. The property is located at the corner of King and Varick Streets.
The site is currently occupied by a six-story commercial building, pictured above, that Avdoo plans to demolish.
“68 King Street marks our second Manhattan acquisition this year, and we look forward to soon unveiling the visionary design team behind it,” said Shlomi Avdoo, CEO and founder of Avdoo. “This project is our opportunity to contribute to Hudson Square’s evolving cultural and architectural identity.”
68 King Street is located three blocks east of Google’s headquarters at St. John’s Terminal and two blocks north of The Walt Disney Company’s headquarters at 7 Hudson Square. The closest subways are the 1 train at the Houston Street station to the north, and the C and E trains at the Spring Street station to the southeast. The site is also within close proximity to the entrance to the Holland Tunnel.
Renderings and further details about 68 King Street and its construction timeline have yet to be revealed.
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Approximately how tall would a 200,000 sq ft structure be at this site?
lot is ~12.5k sq ft so maximum 16 stories, def excited to see more new builds use transit improvement incentives like this
Seems like the old building could make incredible industrial loft spaces, albeit we no longer exist in that market.
Unfortunately the setback econohotel garbage isn’t part of the project.
I’d rather demolish the econohotel and incorporate the facade of the other building (at least part of it) into the new development.
Just in case I wasn’t clear, yes I would like to see the crap hotel torn down.
Another great old building lost.