Hudson Square--Separating Hype From Reality

For years, Hudson Square has been an echo chamber of rumors. The vacancy rate is amazingly high, but brokers--especially those at Cushman & Wakefield brought in by Trinity Real Estate to shake things up--promise that will change.

In Wednesday's Times, Andy Peretz of C&W said, "We have so many deals and so many leases out, we are going to see [the vacancy rate] drop in 30 days."

Well, he's no doubt referring to the Viacom lease that The Observer reported today.

But what else out there is there for Hudson Square? Is this pending vacancy-rate plunge actually legit? Or just a bloated campaign pitch to attract more tenants?

The Real Estate will be watching closely.

- John Koblin