$17.7M Interior Package Filed for 140,000 Sq Ft at 345 Hudson
Nobody has announced a lease here. A buildout this size is the lease, filed before anyone says so.
An interior buildout for office space covering 140,000 sq ft, at a declared cost of $17,688,264, was filed at 345 Hudson Street on September 11. It was filed as a professional certification and is at QA review. Stephen Furnstahl is the applicant of record.
Why it matters
A tenant fit-out of this size is a leasing event that reaches the public record before it reaches a press release, and it is one of the few forward indicators in Manhattan office that cannot be spun. Nobody spends $17.7 million building out 140,000 sq ft speculatively. For a general contractor or an interiors subcontractor, this is a live package of a size that appears a handful of times a quarter in Hudson Square. For an owner or broker marking the submarket, it is evidence of a large commitment on a prewar loft floorplate, in a building and a district that spent the last three years being written about as conversion candidates rather than office wins.
The numbers
The cost works out to $126.34 per square foot of fit-out, which is a full build rather than a refresh. Against the building itself, city land records put 345 Hudson Street at 797,477 sq ft of floor area on a 49,755 sq ft lot, 17 stories, built in 1931 and zoned M1-6. The 140,000 sq ft in this filing is 17.6% of the building.
Two details are worth holding lightly. The filing names no tenant, which is ordinary rather than evasive, since the Buildings Department form carries the owner and applicant, not the occupant. And the professional certification route means the job can be permitted on the applicant’s sign-off subject to audit, which is how a tenant with a delivery date avoids the plan examiner queue. Read together they say speed mattered more than disclosure.
What’s next
Watch for the permit to issue and for a lease announcement to follow it rather than precede it, which is the usual order. Watch also for further filings on adjacent floors in the same building, the pattern that distinguishes one large tenant from a floor-by-floor lease-up. For the rest of the week in New York filings, see our $73.8M count of school construction work and the New York market.
Quick answers
- What is the latest on 345 Hudson Street?
- An office interior buildout of 140,000 sq ft at $17.7M was filed at 345 Hudson Street, professionally certified and already at QA review.
- What are the key numbers for 345 Hudson Street?
- Sq ft of office fit-out: 140,000; Declared cost: $17.7M; Per sq ft of buildout: $126; Share of the building: 17.6%.
- Where does the information on 345 Hudson Street come from?
- The story cites NYC Department of Buildings, job M01438585-I1, NYC Open Data, PLUTO and NYC Open Data, DOB NOW Job Application Filings.
On the record
The declared cost of $17,688,264 against 140,000 sq ft of construction floor area works out to $126.34 per square foot of interior fit-out, and the 140,000 sq ft is 17.6% of the building's 797,477 sq ft recorded in the city land use file.
Our data · zola.planning.nyc.gov
Primary record
- Public recordThe application was filed September 11 as a professional certification and is at QA review, the route that lets a job be permitted without waiting in the plan examiner queue, and it names no tenant.View the record on a810-dobnow.nyc.gov