News:
Brokerage
Posted: January 13, 2026
Polakoff, Nelson and Kingsley of Avison Young sell 125,900 s/f Hudson Sq. development site to Avdoo
Manhattan, NY Avison Young’s Brandon Polakoff, James Nelson and Charles Kingsley arranged the $63 million sale of a Hudson Sq. development site, which features 125,900 buildable s/f as-of-right and 226 ft. of wraparound frontage, located at 68-76 King St. on behalf of the seller.
The buyer, Avdoo, plans to build a high-end residential project on the site, which features a six-story, 68,476 s/f office building. Valley National Bank financed the purchase with a $40 million loan.
“As New York City roars back from the pandemic, new neighborhoods like Hudson Square are taking center stage as a result of investments from major corporations such as Google and Disney,” said Polakoff. “Keen investors and developers are taking note of these shifting trends and capitalizing on the opportunity to deliver novel residential projects to meet the growing demand.”
“68 King St. 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. “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 Sq.’s evolving cultural and architectural identity.”
Formerly a manufacturing and printing district, Hudson Square is now a hotspot for innovation and technology; the King St. site is 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 Sq.
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced