The Walt Disney Company’s chairman and CEO Robert A. Iger has announced the company’s future New York headquarters will encompass a full city block bounded by Hudson Street, Varick Street, Vandam and Spring Street, in Hudson Square. Rev. Dr. Willaim Lupher of Trinity Church sold the air rights, with the help of CBRE, allowing Disney to develop and take ownership of 4 Hudson Square for 99 years, at a cost of $650 million.
“We are excited to welcome Disney to the vibrant and growing Hudson Square area,” said Dr. Lupfer. “This is a significant development in Trinity’s centuries-long commitment to this neighborhood and to the area’s continuing growth and transformation. We’re especially pleased that the transaction will help further Trinity’s mission to serve the people of New York City and around the world through our programs and ministries.”
The Walt Disney Company plans to sell, and lease-back its current Upper West Side campus for about five years until 4 Hudson Square is completed, in a deal with Silverstein Properties, Inc. While no renderings or designs have been presented for the new tower so far, the project is expected to accommodate the future live broadcasting homes for WABC-TV, ABC News, “Live with Kelly and Ryan” and “The View” in a modern energy efficient building steps away from the streets of Soho to the east and Greenwich Village to the north.
Hudson Square is continuing to change and evolve. The area was once known as the Printing District, but is now a neighborhood with many new projects in the works or nearly complete, such as 570 Broome Street, 565 Broome Soho and 550 Washington Street. This is all thanks to the major rezoning approval back in 2013 led by Trinity Real Estate.
No timetable or completion date for 4 Hudson Square has been announced just yet. Part of the site is currently home to the New York office for Rafael Vinoly Architects.