Avdoo plans luxury residential tower in hot Hudson Square
Streetview of 68 King Street © 2024 Google
A new development promising an “elevated residential experience” is moving forward in Hudson Square. Avdoo last week closed on 68 King Street for $63 million, with financing from Valley National Bank. The developer is planning a 200,000-square-foot luxury residential building, with the use of 125,000 square feet of development rights, and will pursue additional air rights purchases and a transit improvement–related bonus, as Yimby reported.
On the corner of King and Varick Streets, the site currently houses a six-story commercial building, which Avdoo plans to demolish.
“When you look at people who want to live Downtown, who want to live in Soho, want to live in the West Village, they don’t have many options,” Shlomi Avdoo, CEO and founder of Avdoo, told The Real Deal in an interview. He told the website securing the site was “one of the most competitive processes” he’s seen.
Avdoo has emphasized architecture and design in past projects. The team tapped Taller Frida Escobedo for Bergen in Boerum Hill and Brent Buck Architects for 110 Boerum Place in Cobble Hill. Last year, the developer also closed on its first Upper East Side project at 242 East 71st Street, but an architect has not been announced yet.
In a press release, Avdoo said the development at 68 King Street will continue that approach and add another “architectural landmark” to its portfolio.
“68 King Street marks our second Manhattan acquisition this year, and we look forward to soon unveiling the visionary design team behind it,” Avdoo said.
“At Avdoo, we collaborate with leading designers, from emerging talent to AD100 starchitects, to deliver architecture that enriches the communities we’re part of and elevates the lives of our residents. This project is our opportunity to contribute to Hudson Square’s evolving cultural and architectural identity.”
The project is near the new headquarters for Google and Disney, as well as 80 Clarkson Street, a new condo from Atlas Capital Group and Zeckendorf Development that has seen some of downtown Manhattan’s biggest deals. A contract was signed for a $129 million deal last year, which would become the most expensive sale below 14th Street. There’s also a duplex for $80 million and a 30th-floor residence for $75 million.
Nearby, an affordable housing project for seniors is underway next to Google’s headquarters. Located at 570 Washington Street, the development launched a housing lottery in August for 122 affordable apartments for low-income seniors. Last month, the city announced plans for a mixed-use project with 280 affordable homes and a new community center on a vacant city-owned lot at 388 Hudson Street, to be called “Hudson Mosaic.”
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