Another hotel or boutique office building is coming to FiDi — and to a street that needs all the growth it can get.
Hidrock Properties just paid $36 million to buy 72 Nassau St., a John Street-corner site with a small, 30,000-square-foot apartment and retail building that can be built up to 120,000 square feet as of right, according to sources.
The seller was the estate of David Baldwin, who was an original partner of the legendary Harry Helmsley.
The deal for 72 Nassau, which closed last week, is the third for the Baldwin estate arranged by a Cushman & Wakefield capital markets team led by Doug Harmon and including Kevin Donner, Avery Silverstein and Adam Spies.
Harmon’s long history with the Helmsley legacy began with helping Leona Helmsley dispose of her late husband’s $5 billion estate in the 1990s.
Hidrock, led by members of the development and property-management Hidary family, previously also bought nearby 112 Liberty St. from the Baldwin estate.
It recently filed plans for a 30-story hotel at the location. Construction has yet to begin. Hidrock has developed over $2 billion worth of projects in Manhattan in the past decade. It hasn’t said yet what it might do at 72 Nassau and the company didn’t respond to a request for comment.
Any new project would be a step up for Nassau Street, which remains tarnished by mostly obsolete, low-rise structures, low-end retail and empty lots — incongruous amidst the area’s new apartment towers.