219 Hudson Street

219 Hudson Street represents a full sellout of a luxury condo project in Tribeca at a total consideration of $60.66M, achieving $2,204 PPSF at close — a meaningful discount to the submarket's comparable range of $3,000–$7,000+ PPSF seen at trophy Tribeca and West Village addresses. The project required a strategic repositioning after sitting with approximately 80% unsold inventory for five years, signaling initial pricing or market absorption challenges, though the final phase closed with only a 1.02% average discount and all three penthouses sold at or above ask, demonstrating execution recovery. Seller Joel Braver is a recognized but smaller-scale developer with $148M in documented volume, and the brokerage team of Kamar and Benjamin, now transitioning to Douglas Elliman, demonstrated competent repositioning execution. The PPSF at $2,204 sits well below luxury Tribeca comps such as 70 Vestry ($7,300 PPSF) and 150 Charles ($10,274–$11,555 PPSF), which may reflect the commercial condo nature of some units, bulk disposition structuring, or a non-residential component within the 27,515 SF footprint. From a lending perspective, this is a completed sellout with no identified distress signals, liens, or litigation, presenting clean title risk but limited future financing opportunity given the sold-out status.