Hudson Square Begins new Chapter as Residential Destination
For this installment of our neighborhoods series, Ralph reports from New York’s Hudson Square. This industrial center is rapidly redefining itself as a residential destination. A former printing and broadcasting hub the small neighborhood is fast becoming one of NYC’s premier rental markets.
In 2013 the city council voted to re-zone twenty blocks of the formerly industrial area into a rental enclave. The re-zoning ushered in 3,200 housing units and has greatly altered the appearance and viability of the neighborhood. While many parts of Hudson Square still look and feel like a business district, a new plan to beautify the area is well underway. The eight year old 27 billion dollar effort by the Hudson Square Business Improvement District includes plans to plant trees and install benches.
Ralph caught up with Michael DiBugnara, founder and proprietor of Hudson Square’s acclaimed Adoro Lei. Since opening its doors in 2015, Adoro Lei has been serving craft cocktails and wood fired pizza to locals and visitors. The business, like the neighborhood is witnessing a new surge of growth.
According to Michael, businesses like his are tapping into Hudson Square’s burgeoning residential market and catering to people that live and work in the neighborhood. “We thought that people wanted more of an elevated experience. Somewhere where there’s craft cocktails. Somewhere where it wasn’t just pizza on the menu. We want it to be an all-encompassing high end, sophisticated pizza place.”
For those looking to call Hudson Square home, Michael has a few words .”It has all these little hidden gems in it. For people that come to this neighborhood they knew it for different things throughout time but all of those places still exist here. The Ear Inn is one of the oldest bars in New York.”
New York City is one of the most expensive places in the world to buy, but neighborhoods such as Hudson square are relatively affordable for those in the market. According to Street Easy, the average price per square foot for residential homes in Hudson Square is $2,317. Comparatively, neighboring TriBeCa and Soho came in at $2,663 and $2,371 per square foot respectively. For more information on Hudson Square or any other real estate or finance needs please contact Home Qualified today.