In Contract: The Hudson Spire Site

Hudson Spire + The Hudson YardsConcept rendering of Hudson Spire + The Hudson Yards -- image originally from Related.

Following The New York Post’s report that Tishman Speyer expressed interest in the site of the conceptual Hudson Spire, Massey Knakal’s page on the listing has just been updated; the lot is now in-contract, indicating a buyer has been found.

Per the Post’s scoop, it would seem likely that Tishman Speyer has indeed acquired the Hudson Spire site; what’s most interesting about Tishman’s involvement is their apparent desire to acquire Sherwood’s adjacent parcel, as well. Combined, the assemblage could support a tower of approximately 2.5 million square feet, making it one of the largest buildings in New York City.

Tishman Speyer’s involvement with the Hudson Spire is particularly intriguing given the firm’s recent history with the Hudson Yards; Speyer actually won the original bidding process for the railyards, before the deal collapsed and Related was awarded the project. The old concept renderings for Tishman’s railyards vision come from Montroy Andersen DeMarco.

Tishman Speyer's Hudson Yards

Tishman Speyer’s Hudson Yards vision, image from Montroy Andersen DeMarco

Given the failed Tishman proposal for the Hudson Yards, the firm’s acquisition of Hudson Spire makes sense, and could result in an ultimate one-upping of Related, as the air rights available are enormous. With egos at play, anything is possible — and when it comes to profitability, which is the ultimate motivator for any developer, building tall in today’s market provides the most lucrative results.

In the context of the Hudson Yards’ recent past, the Tishman takeover of the Spire site is not surprising; while Related’s 30 Hudson Yards may become the railyards’ most notable structure, Speyer now has the option to overshadow competing developments with the neighborhood’s defining icon, especially if the resultant tower is mixed-use. 

With the demand for supertall and super-luxury residences continuing to soar, it certainly seems possible that that sour grapes could ultimately ferment into Manhattan’s tallest building. While uncertainties regarding the assemblage remain, the waiting game will soon be over.

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