January 2022

A team led by Darcy Stacom arranged the purchase of Hudson Commons, the 25-story, 697,958 sq ft trophy tower which occupies the full block-front of Ninth Ave from 34th-35th Streets in Manhattan. Sold by Cove Property Group and The Baupost Group to CommonWealth Partners for $1.033 billion, Hudson Commons is one of only four NYC office properties to achieve LEED Platinum status.

Commenting on the transaction, Ms. Stacom described it as “a resounding affirmation of Cove’s achievement with this renovation, the excellence of the location, and the enduring value of one of the finest modern office properties in Manhattan The world-class combination of an old factory warehouse with a stunning, healthy and efficient modern tower has been a beacon for tenants and a standout in the creation of a new trophy property.”

Highlighted by a complete renovation campaign that began in 2016, and designed to be “the office of the future,” Hudson Commons offers a healthy environment that blends optimum light and spectacular views with innovative and efficient systems technology.

At the time of the purchase, the property was 75% occupied, with 670,000 sq ft of office space anchored by tenants Peloton and Lyft, and 16,000 sq ft of available ground-floor retail space, along with tenant lounges, a bike room, and nearly 30,000 sq ft of outdoor space, meeting rooms and conferencing facilities.