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.