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Image courtesy of H.G. Esch.

Image courtesy of H.G. Esch.

/ Projects / Press

Hudson Commons Sale Marks New York’s Largest Recent Investment

The KPF repositioning project was sold for over $1 billion, more than tripling the price of the building before its renovation four years ago.

Located at 441 Ninth Avenue, Hudson Commons serves as a gateway to the Hudson Yards submarket. The original structure stood eight stories and served as a storage warehouse turned office space. Cove Property Group bought the building in 2017 for $330 million and enlisted KPF to lead the repositioning design. KPF renovated the existing structure and added an additional 17 stories, creating a LEED Platinum office tower that caters to the needs of diverse tenants, where nearly every level includes a private terrace or balcony.

Commercial Observer reports that this month, Hudson Commons sold for $1.033 billion to private real estate firm CommonWealth Partners. The article notes “The building’s repositioning probably set it on its billion-dollar course. The property ended up checking basically every box on the modern real estate wish list, including in terms of sustainability, amenities and wellness.” According to PropertyShark and city records, Hudson Commons is the largest investment sale by dollar volume in New York City since 2019. This previous investment was sold for over $2 billion, located a block away at another KPF project, for the office floors within 30 Hudson Yards.

Read the full article from Commercial Observer here.