- Developer Eric Schlagman completed a six-story expansion of 50 Hudson Street in Tribeca this summer, topped by a glass brick addition he calls a first for New York City.
- The 1925 former paper factory now spans 26,500 square feet of boutique office condos and a luxury penthouse, and most of it sold in April 2025 for $32.2 million.
- The project shows how a contrasting but complementary design helped win Landmarks Preservation Commission approval to add floors within a protected historic district.
The redevelopment of 50 Hudson Street in Tribeca is complete, adding a three-story glass brick addition to a 1925 factory building, according to Commercial Observer.
Developer Eric Schlagman says the 50 Hudson facade, designed by the late Thierry Despont, is the first of its kind in the city.
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From Paper Factory to Condos
The original three-story building went up in 1925 on the corner of Duane Park as a paper-making factory and office for the John F. Sarle Co. A forensic engineering firm later occupied it for about 50 years, and it became part of the Tribeca West Historic District in 1991.
Schlagman and partner Miriam Rothstein bought the site in 2006. The building was structurally sound but gutted by neglect, with its elevator sitting in 6 feet of water, and the pair finished a first renovation in 2008 that restored the facade and added a penthouse floor with a terrace, a new elevator, windows and roof.
The Details
Zoning allowed a building twice the original size, so Schlagman sought Landmarks Preservation Commission approval to expand to six stories. He said commissioners wanted something bold and complementary rather than a matching design, so the original building would still stand out.
Despont, best known for helping restore the Statue of Liberty, designed the three-floor addition with structural engineer Anthony Gennaro and Jacobson Shinoda Architects. The glass bricks match the dimensions of the original bricks, an idea Schlagman borrowed from Bar Cyrk, the cocktail bar he opened in the building’s retail space in 2014.
Construction wrapped in summer 2026, bringing the building to 26,500 square feet and 59 feet tall. Despont and Gennaro both died in 2023, before the project’s completion.
Tribeca’s Landmark Makeovers
Adding floors in a historic district rarely comes easy, and 50 Hudson took roughly two decades from purchase to completion.
Other Tribeca redevelopments have hit their own snags, including a $30 million lawsuit over MetroLoft’s 443 Greenwich conversion.
Why It Matters
The project shows a path for owners of small historic buildings: a design that contrasts with the original rather than copying it can win approval for vertical additions that unlock unused zoning capacity.
The investment has already been monetized. In April 2025, Schlagman sold almost all of the building to biotech founder George Yancopoulos for $32.2 million, and current tenants include jeweler Frank Darling and fitness studio the Lotus Method.
What’s Next
With construction finished, the mixed-use building’s commercial condos for boutique offices and its luxury penthouse are now in their final form.
