Rudin Management’s offices were so severely damaged by the storm that they had to be abandoned.
Rudin Management has found a new space at last after its offices were battered by Hurricane Sandy, The Real Deal Reported. Now it has purchased 36, 000 square feet of development rights at a total of $7.76 million from a FiDi hotel close to its location at 110 Wall Street.
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The Eurostar Hotel at 129 Front Street is now owned by Rudin Management, but Eurostar retains 300 feet of air rights of its 53-room hotel, while Rudin Management, through this purchase, has expanded its total area that can be developed at 100 Wall Street to 290, 025 feet. Eurostar has agreed to refrain from using part of hotel for residential uses for 84 months from the signing of the contract.
Rudin Management’s offices were so severely damaged by the storm that they had to be abandoned after canceling leases. The company had considered transforming the building for residential uses and creating microapartments and other living spaces. Neither Rudin Management nor Eurostar were available to comment on this recent deal.