Volume 76, Number 26 | November 15 - 21, 2006

Another hotel could be taking up occupancy in Hudson Sq.

By Lori Haught

The five-story commercial loft building at 527 Greenwich St. in Hudson Square was recently purchased by Beck Street Capital for $20.5 million.

Eastern Consolidated brokered the purchase.

While a press release said the building at the southeast corner of Greenwich and Vandam Sts. has unused air rights and that Beck Street Capital was considering building a hotel in the future, Roseyawitz said that was just a long-term possibility.

She said that, as of now, the building will remain as is and the current leases will be renewed. She did not say how much higher the owner could build with the unused air rights.

“They do plan to utilize the basement,” Marcia Roseyawitz of Eastern Consolidated said, stating that the ceilings in the basement were about 20 feet high and that it would make a nice restaurant space.

Bayrock/Sapir and Donald Trump are trying to build a 42-story condo-hotel a few blocks away on Varick between Spring and Dominick Sts., but the Department of Buildings has not issued a permit to build.

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