NEW YORK CITY—Tishman Speyer reportedly is poised to purchase a development site across the street from the Javits Center, in the Hudson Yards area, for $185 million.
The site located between West 36th and West 37th streets on 11th Avenue, can accommodate at least a 735,000-square-feet mixed-use property, according to a report in Crain's New York Business. Tishman Speyer is purchasing the site from the Imperatore family.
Tishman also reportedly has the option to purchase additional air rights in the area that could push the total development potential to at least 1.7 million square feet. Tishman Speyer did not comment on the report of its pending land purchase.
Other major developers in the Hudson Yards neighborhood include The Related Cos., which is developing a $20-billion mixed-use complex over the West Side rail yards, and Brookfield Properties, which is building the $5-billion Manhattan West development that will include office, residential and retail space.
Earlier this week, Related announced it had signed its first tenant at its 55 Hudson Yards development—the law firm Boies, Schiller & Flexner, which will take 83,000 square feet of space on three floors of the 1.3-million-square-foot building when it opens its doors in 2018.
See the Tishman Speyer story in Crain's New York Business.
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