BY BILLY GRAY

The commercial brokerage Tarter Stats O’Toole is seeking a museum or gallery for 12,000 square feet of space hitting the market at 174 Hudson Street in Tribeca, The Commercial Observer has learned.

Gregory Gang and Nora Stats have been tapped as exclusive leasing assignment at the building. The space is comprised of an 8,000-square-foot ground floor unit connected by an “architecturally important” staircase to a renovated 4,000-square-foot basement. Asking rent is a blended $85 a square foot between the two floors.

“The building is truly spectacular,” Mr. Gang said, noting that renovations had been phased in over time. The ground floor space features 150 feet of wraparound floor-to-ceiling windows. Mr. Gang said that 174 Hudson Street is for all intents and purposes vacant, although one or two tenants with relationships to the landlord, Hudson Alley, are currently using it.

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BY AL BARBARINO

Extell Development has sold a 90 percent stake in a commercial development site at 68-74 Charlton Street for $52 million to investment firm Angelo, Gordon & Co., raking in $7 million more than originally sought, according to published reports and city records.

Extell, which originally intended to build a 35-story, 181,000-square-foot luxury hotel at the site, began its search to unload the leasehold interest at the site since 2011, when it tapped Eastern Consolidated to market it for $45 million.

Eastern Consolidated’s Brian Ezratty, who marketed the site, and the buyer, did not return The Commercial Observer’s calls seeking comment in time for publication, and Extell executives could not be reached.

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BY GUS DELAPORTE

Andrew Penson, president and founder of Argent Ventures, owner of Grand Central Terminal, is fighting back against the Midtown East rezoning plan, which Mr. Penson argues undervalues the 1.3 million square feet of transferable development rights acquired along with the rail station, Crain’s New York reported.

As part of the rezoning proposal, the city is planning to charge $250 per square foot for development rights allowing developers to build larger towers in the Midtown East submarket. The city’s price, Mr. Penson argues, is half of what Argent values the air rights at.

The air rights are going to be providing space that will be added to the top of the buildings," Mr. Penson told Crain’s. "If this is going to be the best space in the best new buildings, shouldn't it be priced accordingly?"

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BY MICHAEL EWING

The Real Estate Lenders Association will be hosting a breakfast featuring Michael Knott of Green Street Advisors. Members are encouraged to attend.
RELA NYC Breakfast featuring Michael Knott, the Yale Club, 50 Vanderbilt Avenue, 8-9:30am; visit www.rela.org for more information.

The Sustainability Symposium of the Enabled Sustainable Community of Tomorrow, a joint program between CoreNet New York, IFMA NYC, Urban Green Council and Agrion, will be held today. The program will include topics such as climate change and building design, the intersection of sustainability and technology, renewable energy and LEED retrofit funding programs.
Sustainability Community: ESCOT Sustainability Symposium, 631 Avenue of the Americas, 5-8pm; contact Jeannette Boccini at (212) 499-6566 for more information.