In January 2014, HREV structured, financed, and closed on the $152M acquisition of a large scale, multi-parcel site assembly in the newly rezoned Hudson Square area of Lower Manhattan.
HREV led the transaction after initially engaging with a group that had secured purchase contracts at an attractive basis for a majority of the properties comprising the assemblage.
HREV is the co-developer of the 290’ tall mixed-use development, marketed as 565 Broome Soho. Designed by Renzo Piano, the building will feature two 25-story towers and include 115 condos, approximately 26,000 SF of retail space and up to 40 automated parking spaces.
565 Broome St
New York, Ny 10013
- Investment Type Sponsor Equity
Residential & Retail
Changing the Face of SoHo
Due to the Hudson Square rezoning, 565 Broome is afforded an unmatched height advantage that allows it to tower over this historic district. At 30 stories and 290 feet tall, it features two mirroring towers containing 115 units.
The building’s half-acre footprint allowed the developer to include a gated, circular driveway with an automated parking garage, providing maximum privacy for residents and their guests.
A grand arrival experience, like that afforded to residents and guests of 565 Broome is rarely seen in Manhattan, and it lends a sense of grandeur that distinguishes the development from its Downtown neighbors.