NYC real estate sees $35M FiDi purchase and Brookfield's $3.5B Hudson Square stake

Brooklyn-based developer Wolfe Landau, through Peninim Water, purchased two adjacent Financial District lots—78 Pearl Street and 46‑48 Water Street—for a total of $35 million. The properties, spanning about 10,000 sq ft and including a vacant lot and a 1929 mixed‑use building, are slated for demolition, though Landau’s future plans remain unclear.

Brookfield Asset Management is in exclusive talks to acquire a 10 percent interest in Hudson Square Properties, a 13‑building, 6.25‑million‑square‑foot office complex on Manhattan’s West Side. The transaction would value the portfolio at roughly $3.5 billion and make Brookfield the long‑term operating partner. The complex, owned by Trinity Church Wall Street and Norges Bank Investment Management, has attracted major tech and media tenants such as Anthropic, Google, Disney and PayPal, driving a recent rise in rents and declining vacancy rates.