Former New York governor Elliot Spitzer is getting into the real estate development business. His family run Spitzer Enterprises plans to build a new hotel on the west side of Manhattan in the new Hudson Yards development.
The site is located at 511 West 35th Street, between 10th and 11th Avenues. The site holds a total of 17, 281 square feet of buildable space. It runs through to 36th Street on its back side and comes with 75 feet of frontage on West 35th and 100 feet on 36th Street.
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Spitzer’s firm recently paid for an additional 138, 250 square feet of building rights there. In exchange for the rights Spitzer will pay a $17.33 million contribution to the Hudson Yards District Improvement Fund. The fund is responsible for making improvements to the area of the Hudson Yards development.
He will also have the option to acquire rights to add another 103, 688 square feet of space.
The hotel will be a skyscraper with more than 600, 000 square feet of space
The most recent designs from Bernheimer Architects and the Architecture Resource Office show two connecting towers, one 350 feet high and the other 615 feet high.
Spitzer bought the property late last year for $88 million.
About Hudson Yards, Spitzer told The Real Deal that, “It’s one of the great growth opportunities in Manhattan.”