News:
Owners Developers & Managers
Posted: June 13, 2023
Hudson Square Properties closes on 555 Greenwich - 270,000 s/f
New York, NY Hudson Square Properties (HSP), a joint venture of Trinity Church Wall Street, Norges Bank Investment Management and Hines, has closed on the forward purchase of 555 Greenwich, a new 270,000 s/f, 16-story office tower in Hudson Sq. which combines with the historic 345 Hudson in a horizontal overbuild.
The building was constructed by Trinity and Hines as the development manager. The closing is part of an agreement established in 2019 and marks a major milestone in the project as 555 Greenwich achieves substantial completion, bringing the building into the joint venture as the 13th asset in an operating portfolio totaling more than six million s/f. The first tenant is scheduled to move into the building in early September.
555 Greenwich employs a groundbreaking combination of wellness and sustainability-forward features, including geothermal and radiant heating and cooling, full electrification to eliminate the on-site use of fossil fuels, and a dedicated outside air system to provide 100% outside air to tenants. The interconnected 345 Hudson has been selected by the New York State Energy Research and Development Authority (NYSERDA) as a partner in the prestigious NYSERDA Empire Building Challenge. Upon completion of the combined offering, 555 Greenwich + 345 Hudson will exceed NYC’s 2030 climate targets for office buildings by over 45% while meeting NY State’s 2050 carbon neutral targets. 555 Greenwich is expected to achieve the highest rating (LEED Platinum) for sustainability.
Designed by COOKFOX Architects, 555 Greenwich will include retail at the ground floor and office space above. The combined 555 Greenwich + 345 Hudson complex will feature over 33,000 s/f of outdoor space via 11 outdoor terraces allowing for access to greenspaces, natural light via floor-to-ceiling windows, and breathtaking views of the city and Hudson River. The building is located in the Hudson Sq. neighborhood, between the West Village, Soho, and Tribeca and steps from the Hudson River Greenway.
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