CommonWealth Partners Acquires Mixed-Use Property In Hudson Yards For $1.03B

The mixed-use property located at 441 Ninth Avenue in Hudson Yards has been sold for a total of $1,033,000,000. The sale was closed on December 17, 2021. The property spans a total area of 515,138 square feet, resulting in a price per square foot of $2,005. The zoning classification for this property is C6-4, which allows for a variety of commercial and residential uses. The lot size is 39,779 square feet, with dimensions measuring approximately 197.5 feet by 201.42 feet. The property is classified under tax class 4.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $1,033,000,000
• Market: Hudson Yards
• Square Footage: 515,138
• Price Per Square Foot: $2,005
• Zoning: C6-4, HY

The buyer in this transaction is CommonWealth Partners, represented by Brett Munger and Travis Addison. On the other hand, Kevin Hoo, representing Cove Property Group and Baupost Group, acted as the seller. The property was previously subdivided into condominiums on December 2, 2020, as indicated by the permits obtained. The floor area ratio (FAR) of the property is 12.95, reflecting the intensity of development allowed on the site.