Sherwood Equities Pushes to Double Density at 460 Tenth Ave., Offers $11.8M Hudson Yards Contribution

Key Points:

• Sherwood Equities is seeking to double density for a proposed residential tower at 460 Tenth Avenue in Hudson Yards
•  The developer would contribute $11.8M to the Hudson Yards District Improvement Fund
•  The plan includes roughly 247K SF with residential, retail, and affordable housing components

Sherwood Targets Larger Hudson Yards Build

Sherwood Equities is pursuing approval to increase density at 460 Tenth Avenue, a development site in the Hudson Yards District between West 35th and West 36th streets. The roughly 17,200 square foot lot is currently used as a 63 space parking facility. Sherwood has owned the site since the early 1990s. Under the revised proposal, the project would span approximately 247,000 square feet, including about 228,000 square feet of residential space and nearly 20,000 square feet of commercial use.

$11.8M Infrastructure Contribution

To secure additional floor area, Sherwood would wire $11.8 million into the Hudson Yards District Improvement Fund. That fund supports local infrastructure, including public space upgrades and expansion of the 7 train extension serving Hudson Yards. The required contribution rate for bonus density recently increased from $165.22 per square foot to $169.68 per square foot, reflecting rising land values and continued demand for development rights in the district.

Affordable Housing Component

As part of the density push, Sherwood would incorporate affordable housing into the project. Earlier marketing materials circulated by JLL referenced a 42-story condo tower with 233 units and ground-floor retail, though it is unclear if the site remains actively marketed. If approved, the revised proposal would effectively double the allowable buildable area compared to prior expectations.

Parking to Residential Shift

The current use as a parking lot underscores a broader trend across Manhattan. Underutilized sites in high-value districts like Hudson Yards are increasingly being repositioned for residential density. With the 7 train extension and surrounding trophy office towers anchoring the neighborhood, demand for new housing product remains strong, particularly for projects that can leverage bonus floor area through public contributions.

Final Thoughts

Sherwood’s proposal reflects a familiar Hudson Yards playbook. Contribute to infrastructure, add affordable housing, and unlock additional square footage in one of Manhattan’s most supply-constrained districts. If approved, the density increase would transform a modest parking lot into a high rise residential asset tied directly to the city’s long-term infrastructure investment strategy.