Shearman & Sterling represented Trinity Real Estate with respect to a 99-year ground lease of a development site at 330 Hudson Street in the Hudson Square Neighborhood of Manhattan for the development of a 350,000 square foot office building with ground floor retail. The aggregate net rent to be paid to the client will be in excess of $460MM over the term of the lease. The development will utilize portions of the existing eight-story structure and will include the addition of several floors by the ground lessee.

The Shearman and Sterling team was led by counsel Peter A. Strauss and partner Chris M. Smith (both New York-Real Estate).