550 West 37th Street

450 Eleventh Avenue

New Details of 42-Story, 440-Key Starwood Hotel Planned at 450 Eleventh Avenue, Hudson Yards District

10:00 am on April 20, 2016 By Reid Wilson

Flushing-based Marx Development Group reacquired, for $35 million, the development assemblage at 450 Eleventh Avenue, located on the corner of West 37th Street in the Hudson Yards District, in 2013. Since then, the developer purchased 35,550 square feet of development rights for $7 million, and now new details of the planned hotel have been revealed by The Real Deal. Planned is a 42-story, 440-key Starwood Hotels & Resorts Worldwide hotel. The tower will measure roughly 213,300 square feet and will feature 3,000 square feet of ground-floor retail space. DSM Design Group is designing the project. Groundbreaking is expected later this year, and opening is slated for 2019. Two low-slung commercial buildings – at 448-452 Eleventh Avenue – must first be demolished.

444 Eleventh Avenue

Tishman Speyer Planning 1.3-Million Square-Foot Office Tower At 444 Eleventh Avenue, Hudson Yards

6:30 am on March 10, 2016 By Reid Wilson

Last summer, news broke that Tishman Speyer was in contract to buy the development assemblage at 434-444 Eleventh Avenue and 550 West 37th Street, located between West 36th and 37th streets, in the Hudson Yards District. Real Estate Weekly reports the developer has closed on the purchase of 434-444 Eleventh for $163.5 million. 550 West 37th Street sold in a different transaction at an undisclosed price. Plans for the site call for a 1.3-million square-foot office tower. The exact height of the building is probably still being hammered out and the design architect is currently unknown. Ultimately, the site could accommodate up to 1.7 million square feet of development if the maximum number of air rights are purchased. The site is vacant, with the exception of a single-story commercial property at 550 West 37th Street. The two single-story buildings at 446-552 Eleventh Avenue are not (yet) part of Speyer’s assemblage.

550 West 37th Street

Tishman Speyer To Acquire Mixed-Use Development Site At 550 West 37th Street, Hudson Yards

12:15 pm on June 11, 2015 By Reid Wilson

Tishman Speyer is in the process of acquiring the development site at 550 West 37th Street — on 11th Avenue, between West 36th and 37th streets — in the Hudson Yards district, for $185 million. According to Crain’s Business, the parcel boasts 735,000 square feet of mixed-use building potential, but can be expanded to roughly 1.7 million square feet with the purchase of bonus air rights. The developer also plans a significant tower at 435 10th Avenue, a few blocks to the south.

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