By Gus Delaporte 4/10 1:00pm

Hudson Square

350hudson

Hip To Be Square: Only Thing Slowing Leasing Activity in Hudson Square is Lack of Space

Perhaps better known as the gateway to the Holland Tunnel, the burgeoning Midtown South submarket Hudson Square has, in recent years, begun to attract the type of creative tenants that in previous years flocked to neighboring Chelsea and NoMad.

Dominated largely by Trinity Real Estate, with its centuries-old real estate tradition, the market’s other owners have started to cater their properties to an exciting new breed of tenant, and a neighborhood improvement plan is not far behind. Read More

By Gus Delaporte 4/09 10:00am

The Sit-Down

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Let There Be Real Estate: Trinity Real Estate President Jason Pizer on tending Queen Anne’s Assets

Trinity Church boasts over three centuries of landownership in New York City, dating back to 1705, when Queen Anne gave a 250-acre land grant in what is now Hudson Square to the parish. Bounded by Greenwich Street to the west, Avenue of the Americas to the east, Houston Street to the north and Canal Street to the south, Hudson Square has more recently benefited from Midtown South’s increasing popularity with the creative class. Jason Pizer, president of Trinity Real Estate, spoke with The Commercial Observer last week about Trinity’s presence in the market, the evolution of Midtown South and the future of Hudson Square as rezoning stands to revitalize the neighborhood once again.

Read More

By Richard Persichetti 3/14 9:00am

Stat of the Week

HotSpots

Which 3 Submarkets Have Surpassed 2007 Asking Rents?

Flash back to the year 2007: Manhattan real estate was red-hot, and asking rental rates were at all-time highs across all 19 submarkets tracked by Cassidy Turley.

But then the financial world collapsed, and real estate quickly followed. Instead of a long, drawn-out down cycle, the market showed resilience and began to bounce back in 2010. Since that time, though, only three out of the 19 submarkets’ current overall average asking rents have surpassed those historical highs from 2007, with nine of the submarkets still 10 to 25 percent off those numbers. Read More

By Michael Ewing 3/08 5:10pm

Lease Beat

Courtesy of Trinity Real Estate

iN DEMAND Renews at 345 Hudson Street

iN DEMAND has renewed their lease in Hudson Square.

The entertainment company will continue to occupy their 50,000 square foot office in Trinity Real Estate’s 345 Hudson Street. The company is known for being a leader in providing transactional entertainment through television, such as Video on Demand (VOD) and Pay Per View (PPV). Read More

By Karsten Strauss 1/09 8:00am

Lease Beat

Adidas will set up a showroom at 435 Hudson Street in Manhattan (photo: oct on Flickr)

Adidas Lands at Hudson Square

International athletic apparel company, Adidas, signed a 10-year, 15,220-square-foot lease at Trinity Real Estate’s 435 Hudson Street. The space will be used by the company’s US-based marketing team as a showroom and event venue.

The asking price was $65 per square foot.

The new location is a relatively short walk from Adidas’ other location at Read More

By Ian Thomas 10/16/12 7:45am

Hudson Square

Hudson Square/West Village.

Trinity Real Estate, Hudson Square, Targeting Fashion Industry Tenants

The industrial vibe of Hudson Square has beckoned media and tech firms in recent years, including New York magazine, MTV and now the New York Genome Center.

Now, analysts predict that the next industry on the list for Trinity Church, the religious institution that controls much of the area’s property, will be fashion.

Trinity Real Estate brokers lured high-end fashion designer Thakoon Panichgul into a 12,000-square-foot space at 225 Varick Street while also signing leases with Tory Burch and 3.1 Phillip Lim in recent months. Read More

By Daniel Edward Rosen 2/21/12 9:00am

Lease Beat

350 Hudson Street. (Courtesy Property Shark)

Frenkel & Co. Renews in Hudson Square

An insurance company has renewed its lease in the increasingly media- and startup-friendly enclave of Hudson Square.

Frenkel & Co., an independent insurance company, has signed a seven-year lease renewal for 39,000 square feet on the fourth floor of 350 Hudson Street for its corporate headquarters, The Commercial Observer has learned. Read More

By Daniel Edward Rosen 11/30/11 10:02am

Lease Beat

137Varick (2)

Trinity's 137 Varick Street Reaches 100%

A Trinity Real Estate-owned Hudson Square office building has reached 100 percent occupancy after it lured NYU-Poly Varick Street Incubator away from another Trinity-owned building into a bigger space, signed Paik Architecture PLLC to new office space, and agreed to give current tenant Unity Construction Development additional space, The Commercial Observer has learned.

Having met maximum capacity, 137 Varick Street now has an eclectic collection of tenants that range from Alexander Gorlin Architects, online job search company TheLadders, and Scott Jordan Furniture. Read More

By Dan Geiger 11/22/11 2:30pm

Lease of the Week

175 Varick Street

WeWork Takes New York City

Notwithstanding WeWork’s impressive track record of growth and success in the city, Sean Black knew his tenant wasn’t necessarily going to be an easy sell to landlords.

In just over a year, WeWork had opened three thriving locations, in midtown, Soho and the meatpacking district. The company leases offices, then prepares the facility for smaller tenants and rents out the space on a desk-by-desk basis.
Though there are several companies in the city in what is known as the office-suite business, WeWork has created a distinct concept by constructing space with open floorplans and glass partitioning, a layout that fosters interaction between the tenants. Read More

By Jotham Sederstrom 8/23/11 10:13am

Power Broker

Mr. Packman joined Trinity in November 2010.

The Hudson Square Crier

When Cushman & Wakefield accepted leasing duties at 1 Hudson Square in 2005, the building just north of Canal Street was still struggling to transcend its traffic-choked proximity to the Holland Tunnel and an address in a neighborhood nobody had really named (it’s called Hudson Square today).

Yet by seizing on a small but notable spurt in recent activity from a handful of tech firms and digital start-ups, the Cushman agents helped reposition the 1.1-million-square-foot building into a hub for the city’s creative underclass. Read More

By Jotham Sederstrom 8/11/11 9:11am

Lease Beat

(Photo: Trinity)

American Idol Producer to Move Into Trinity Church’s 435 Hudson

FremantleMedia, among the largest producers of reality television brands in the world, including American Idol, America’s Got Talent and loads of other shows your kids watch, has signed an 8,000-square-foot lease at 435 Hudson Street. The group will occupy part of the fourth floor of the building, in part to consolidate all of its operations under one roof. In October, the group acquired a 60 percent share of @radical.media, a global media business that is also housed at the Trinity Real Estate-owned building. FremantleMedia is expected to relocate later this year after the space is renovated. Read More