By: Hal C Clarke

A remarkable development project is nearing completion in the Meatpacking District of New York City, specifically at the intersection of Ninth Avenue and West 14th Street. Tavros, a prominent development firm led by Dov Barnett and Nicholas Silvers, is putting the finishing touches on 50 Ninth, an impressive collection of 19th Century townhouses adjacent to the renowned Old Homestead Steakhouse.

The restoration work on 50 Ninth involved replacing the deteriorated facades with authentic and vintage bricks sourced from various locations across the United States. These restored facades will contribute to the retail spaces on both the Ninth Avenue and 14th Street sides of the development. Additionally, Tavros has incorporated a new boutique office building into the project, designed by BKSK Architects. This nine-story, 57,000 square-foot structure features a striking glass exterior.

Excitingly, the fifth floor of the office building has already been leased to Sole Source Capital, a private equity firm based in Dallas. The leasing rate for this 6,000 square-foot floor was set at a remarkable $180 per square foot, which is believed to be the highest asking rent in the Meatpacking District. There are also rumors of an upcoming deal with a luxury automotive brand for a separate floor within the building, where the asking rent is an astonishing $215 per square foot, potentially setting a new record for the area.

Tavros was represented by JLL’s Clark Finney, Howard Hersch, Robin Olinyk, and Macy Parana in the lease agreement with Sole Source Capital. The team’s expertise and negotiation skills undoubtedly played a crucial role in securing this high-profile tenant.

In addition to the 50 Ninth project, Tavros is also behind another notable development called The Dime, located in Williamsburg. The Dime is a large-scale mixed-use project that further showcases the firm’s commitment to transforming and revitalizing various neighborhoods throughout New York City.

With the completion of 50 Ninth, the Meatpacking District is set to welcome a stunning addition to its architectural landscape. The meticulous restoration of the townhouses and the addition of the modern office building demonstrate the district’s evolution into a dynamic and vibrant hub for both retail and business ventures. As the final scaffolding is removed, the Meatpacking District’s newest gem will surely capture the attention of locals and visitors alike.

In the late 19th and early 20th centuries, the Meatpacking District was a bustling hub of meat processing and distribution. The neighborhood was teeming with meatpacking plants, slaughterhouses, and associated businesses. It was a gritty and industrial area, bustling with activity as animal carcasses were processed and transported throughout the city.

However, as the city’s economy shifted and urban renewal initiatives took hold in the latter half of the 20th century, the Meatpacking District experienced a decline. Many of the meatpacking businesses closed down, and the area became known for its abandoned warehouses and seedy reputation.

But in the late 1990s and early 2000s, a new wave of revitalization swept through the Meatpacking District. Visionary developers recognized the neighborhood’s potential and began transforming the once-gritty streets into a vibrant destination for fashion, dining, and entertainment.

The transformation began with the opening of the renowned nightlife hotspot, the Boom Boom Room, atop the Standard Hotel. This iconic venue attracted celebrities, fashion influencers, and partygoers, putting the Meatpacking District back on the map.

Soon, high-end fashion retailers, upscale restaurants, and art galleries started to populate the area, drawing both locals and tourists.