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Michael Shvo expanding 100 Varick Street project

Developer buys portion of the adjacent building for $9 million

 

Shvofinal - Michael Shvo expanding 100 Varick Street project


Michael Shvo picked up another Hudson Square parcel, which he plans to add to the site of his planned 25-story condo project next door, known as 100 Varick Street.The developer bought a piece of 555 Broome Street – the building’s two-story annex – paying $9 million to the Door, a youth nonprofit which owns 83 percent of the building.

SHVO is planning a Renzo Piano-designed, 242, 000-square-foot condominium building at the site, along with partners Bizzi & Partners Development and Halpern Real Estate Ventures. That building will stand 25 stories and house 115 condo units.

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The plans also call for 17, 000 square feet of commercial space and 750 square feet for a community facility.

Read the full story at The Real Deal

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