The growing Hudson Yards-are skyline with construction of Hudson Commons appearing on the lower left-hand side (CityRealty)
Last November, Cove Property Group and equity partner Baupost Group unveiled plans to redevelop their gloomy 8-story office block at 441 Ninth Avenue in Midtown West. The 423,000-square-foot existing structure, long tenanted by Emblem Health, is receiving 17 additional floors and is being rebranded as Hudson Commons. Now with the core asending, come 2019, the tired block will finish its transformation into a spiffy 26-floor Class A property accomodating 700,000-square-feet of rentable office space.
Some new windows have already been installed on the existing portion and a concrete core is now beginning to rise from the building's center. Kevin Hoo, a managing partner at Cove, tells the Observer that the entire building will be tenant-ready by the end of summer 2019. Late last year, the development partners received $479 million in construction financing to begin work.
441 Ninth Avenue before and after (Cove Property Group)
The overhaul is being designed by Kohn Pedersen Fox (KPF) who were also responsible for Related’s nearby 10 and 30 Hudson Yards. While no dramatic swoops, slashes, or jutting observation decks are in this design, Hudson Commons will provide 80% more vision glass in the podium, have 14 private terraces and a full suite of amenities such as tenant lounges, a 140-car garage, bike room, and meeting room & conferencing facilities. There will be a variety of floor plates available to tenants of many sizes — some spanning up to 50,0000 square feet. 14’4″ slab-to-slab ceiling heights will be the norm and full height glass walls will let sunlight bathe interiors from all four sides.
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The development will seek LEED Gold certification — afterall, there's nothing greener than reusing and reinventing something existing right?. Though no tenants are yet in place, the team is targeting TAMI (Technology, Advertising, Media, and Information), fashion, financial services and legal tenants.
Currently, the intersection of West 34th Street and Ninth Avenue is among Midtown’s most forgettable high-traffic corners— the only institution of note is B&H Photo Video store and its motel-like addition. As development pressure from Hudson Yards pushes in from the west, it seems inevitable that the parking lot opposite Ninth Avenue from the building will be redeveloped as well
Rendering showing a penthouse trading floor (Cove Property Group)
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