The 24-story hotel-to-residential conversion of 358 West 58th Street remains stalled in Hell’s Kitchen, Manhattan. The former 878-room Hudson Hotel was supposed to be transformed into 441 below-market rate rental apartments overseen and developed by CSC Coliving and also include more than 50,000 square feet of retail space on the lower levels of the building. The property is located on an interior lot between Eighth and Ninth Avenues and was being financed through the acquisition of a $100 million financial package from Northwind Group.
The below Google Maps image showed what the former boutique hotel’s front elevation used to look like before the residential conversion got underway. The large monolithic box along West 58th Street appeared with its original gray concrete finish, along with a number of square and ribbon windows puncturing the flat surface, and shrubbery lining the sidewalks.
Street view of 358 West 58th Street – Courtesy of the Hudson Hotel
Photographs show the large building standing quietly over the neighborhood with the concrete surface completely changed to a solid black surface, while the old row of small square windows were swapped with a larger and taller set. The two doors at ground level are covered with brown paper and tape, and a plaque was installed next to the entrance with Henry Hudson’s name inscribed on the panel, a nod to one of the property’s previous names as the Henry Hudson Hotel. To the west is a two-story assembly of wooden boards covering up the base of the hotel structure, and a steel-framed outline of a canopy hanging over the sidewalk. Not much change has happened to the rest of the brick masonry envelope above.
358 West 58th Street. Photo by Michael Young.
358 West 58th Street. Photo by Michael Young.
358 West 58th Street. Photo by Michael Young.
358 West 58th Street. Photo by Michael Young.
358 West 58th Street. Photo by Michael Young.
The $100 million loan was part of an A-Note financing product, which is a loan-on-loan offering marketed to residential owners and developers. The financing was put in place roughly one year after CSC Coliving acquired the hotel from Eldridge Industries for $207 million.
The hotel was originally constructed in the late 1920’s as the home of the American Woman’s Association with its development led Anne Morgan, the daughter J.P. Morgan. It then became the Henry Hudson Hotel, opening to both men and women in 1941 after The American Women’s Association went bankrupt. It offered co-ed living spaces, including for Navy officers during World War II. By 1997, levels two through nine housed WNET-TV’s offices and studios. before eventually relocating to Lincoln Center. That same year, the hotel was purchased by The Morgans Group for $125 million and would undergo a three-year renovation. This endeavor included an interior overhaul designed by Ian Schrager and Philippe Starck. In 2000, the building was renamed The Hudson and included new bars, a restaurant, and a nightclub, becoming a celebrity hotspot over the next two decades.
The Hudson Hotel eventually closed for business on November 19, 2020 due to the COVID-19 pandemic. A liquidation sale of the hotel’s furnishings was held back in early September 2022.
The nearest subway station from the upcoming mixed-use site is the 59th Street – Columbus Circle stop to the east, servicing the 1, A, B, C, and D trains.
A completion date and news about work resuming has yet to be announced.
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The city can desperately use smallish and affordable-ish apartments. Not everyone needs lots of space- especially in that neighborhood where it’s so easy to spend most of the day out and about.
There is no money in affordable housing.
We subsidize highways and schools. Our economy couldn’t function without the labor done by the working poor.
wow Dave – y0u are a bleeding heart.
We subsidize a million plus housing units in NYC.
and the taxes and costs continue to skyrocket.
save your pollyanna view of the world.
hey the poor are responsible for most of the crime too. (not all of course)
I bet you excuse that too.
why are you on this website
Because you’re so easy to troll.
It’s a terrible shame stupid can’t be fixed, but then Fox would be done.
Black surface, so unnecessary in the age of Climate Change. Will boost air conditioning costs by some large amount.
At first glance, that black surface looked like a sex club facade to me.
All those lot line windows could be a problem if the corner is redeveloped.
I doubt anyone will see this as the article is several days old now but what a sad state of affairs to read some of these comments.
Crime is largely committed equally among economic groups. Different types of crime yes, but please spare me the bs argument that only poor people do bad. Pathetic.
I said there were plenty of people that could use small and affordable-ish. Redeveloping within the hotel’s footprint would save on renovation costs and those units could have a per square meter income quite similar to larger units. So it’s not necessarily about a lack of profit.
How many billions have been spent subsidizing luxury developments? 432 Park still has never- before occupied units.
If nothing comes from this project, so be it. But please find a way to keep your petty politics out. This site is about development, not about fear of different people coming to take your things away. Some people on here need to chill with the fear porn.