February 26, 2019
Cove Property Group has signed Lyft Inc. to 100,638 square feet at its Hudson Commons redevelopment on Manhattan’s Far West Side. The deal brings the property, projected for a summer 2019 delivery, to 63% pre-leased.
A CBRE team of Stephen Siegel, Evan Haskell, Paul Haskin, James Ackerson and Ben Joseph represented Cove and partner the Baupost Group. JLL’s Steven Rotter and Justin Haber advised Lyft.
Cove and Baupost acquired the property at 441 Ninth Ave. in December 2016, and commenced a redevelopment that adds 17 stories to its original eight.
“In surveying the surrounding developments, we saw an opportunity to respect the beautiful 1962 warehouse building’s heritage and add significant square footage above it, rather than tear it down,” said Cove’s Kevin Hoo.
With the recent signing of Peloton to 312,000 square feet added to the Lyft deal, just 253,000 square feet remains available in the newly-constructed tower floors.
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