NEW YORK CITY-Investment firm Angelo, Gordon & Co. has spent $52 million fro a 90% stake in a Hudson Square development parcel.
The New York City-based company acquired the property-68-74 Charlton St. from Extell Development, according to The Real Deal. The leasehold was extended until 2163, according to Dana Roffman, an executive with Angelo, Gordon's real estate group. The company has invested in a joint venture with Extell and intends to explore development opportunities at the site, Roffman adds.
Extell, headquartered in New York City, had been looking to sell its leasehold interest at the site for some time. The firm had previously hoped to build a 35-story, 181,000-square-foot luxury hotel at the site, but eventually abandoned those plans. See story in The Real Deal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
