Avdoo, a New York-based real estate developer, has closed on 68 King Street in Manhattan’s Hudson Square neighborhood. The $63 million deal marks the developer’s second Manhattan acquisition this year.
Avdoo Acquires 68 King Street for $63 Million
Avdoo’s latest acquisition of 68 King Street was possible through a financing provided by Valley National Bank. The deal supports Avdoo’s broader goal of delivering an elevated residential experience in Hudson Square.
Shlomi Avdoo, the CEO and Founder of Avdoo, stated that 68 King Street is the developer’s second Manhattan acquisition this year. Avdoo plans to reveal the visionary design team behind it soon.
“At Avdoo, we collaborate with leading designers, from emerging talent to AD100 starchitects, to deliver architecture that enriches the communities we’re part of and elevates the lives of our residents. This project is our opportunity to contribute to Hudson Square’s evolving cultural and architectural identity,” Shlomi stated.
Features of the New Residential Development
The latest acquired project by Avdoo will be a residential property based on the prime corner of King Street and Varick Street. Avdoo is known for placing architecture and design at the forefront of its projects. Additionally, the real estate developer works with well-known talents, including Taller Frida Escobedo, Workstead, Brent Buck Architects, INC Architecture and Design, and others.
The New York developer hopes that 68 King Street will be the next architectural landmark in its portfolio.
A Hub for Innovation: Location Highlights
Once a manufacturing and printing district, Hudson Square has evolved into a major hub for technology and innovation. The latest King Street site is located just three blocks east of the headquarters of Google at St. John’s Terminal. Plus, the property is also two blocks north of The Walt Disney Company’s headquarters at 7 Hudson Square.
The Manhattan neighborhood boasts a fusion of modern and historic architecture. It is also ideally located at the intersection of SoHo, Greenwich Village, and Tribeca, which is home to popular restaurants, galleries, and fashion outlets.
Recent Developments and Future Projects
Earlier this year, Avdoo also closed on another Manhattan project. Located in the Upper East Side, 242 East 71st Street, the project is currently under construction. Continuing with Avdoo’s legacy of keeping design at the forefront, the latest development will align with the neighborhood’s historic architectural fabric.
Apart from this, the real estate development firm launched and began sales for another Cobble Hill condominium, 110 Boerum Place. Brent Buck Architects and Brook Landscape are the designers of the 21-unit residential establishment. The property brings a modern feel to Manhattan’s historic brownstones with its beautifully crafted interiors, lush amenities, and ample private outdoor space.
Located in Boerum Hill, Bergen by Avdoo is among the best-selling new residential developments in New York City. It recently surpassed 70% sold, and residents moved into the property this August.
Over the past 25 years, Avdoo has completed more than 2 million square feet of residential and mixed-use projects. An additional 1 million square feet is still in the pipeline. Founder and CEO Shlomi Avdoo is leading the firm in developing thoughtfully designed residential and mixed-use properties that strengthen the cultural and urban fabric of their neighborhoods.
Avdoo closely collaborates with emerging and established talents, including architects, artists, designers, community leaders, and more, in uplifting New York’s architectural and cultural landscape. Saint Mark’s Place by INC Architecture and Design and Bergen by Frida Escobedo, DXA Studio and Workstead are some projects by the real estate developer.
The Hudson Square acquisition expands Avdoo’s New York footprint as the firm moves forward with plans for a new residential project in one of Manhattan’s fastest-evolving districts.
