MAG, Global Holdings plot Hudson Square resi tower

MaryAnne Gilmartin and Eyal Ofer are teaming up in Hudson Square. MAG Partners and Global Holdings signed a ground lease for Trinity Church’s property at 122 Varick Street, the Commercial Observer reported. Details of the long-term ground lease were not disclosed; Cushman & Wakefield’s Kevin Donner arranged the deal from the church’s end. The partners plan to build a 192,000-square-foot property at the site, utilizing the 485x tax abatement program. Under that program, at least 25 percent of the 149 rental units planned will need to be designated affordable. The project is also expected to include 5,000 square feet of […] This article originally appeared on The Real Deal. Click here to read the full story.