Transactions - JULY 22, 2021

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NBIM with Hines break ground on NYC Hudson Square Neighborhood project

by Andrea Zander

Hudson Square Properties, a joint venture of Trinity Church Wall Street and Norges Bank Investment Management (NBIM), with Hines as the operating partner, has broken ground on 555 Greenwich, a 270,000-square-foot, 16-story office tower in the heart of the burgeoning Hudson Square neighborhood.

This project represents the next level of high-performing buildings and will be a benchmark for sustainable and responsible development in New York City into the future. 555 Greenwich will exceed New York City’s 2030 climate targets for office buildings by more than 45 percent, while meeting the state’s 2050 carbon-neutral targets. The new office tower will align and combine with the existing 345 Hudson Street to advance the ongoing transformation of this former printing and warehouse district into a thriving residential, commercial and retail community. It is the first speculative office development in New York City to break ground in the wake of the pandemic. Completion is project

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