Cuddy & Feder Secures IDA Approval for $121 Million Film Studio Project in Hastings-on-Hudson

Cuddy & Feder Partner, Eon S. Nichols, secured IDA approval from the County of Westchester Industrial Development Agency (IDA) for a significant project by Electric Owl, for the development of a full-service film studio in Hastings-on-Hudson. This approval includes a straight-lease transaction for a project located at 1 South Broadway. The project will encompass the construction of six new buildings for sound stages and auxiliary spaces totaling approximately 177,000 square feet, alongside the adaptive reuse of two existing buildings for production offices and support staff, adding another 68,000 square feet. The total estimated cost is around $121 million, with anticipated mortgage recording tax exemptions and sales tax benefits.

The approval underscores the project's potential to enhance local economic development by creating job opportunities and promoting sustainable economic development in Westchester County.

In addition to the IDA approval, Cuddy & Feder Partner William S. Null and Associate Maximillian Mahalek secured a Zoning Amendment to permit the use in January 2024.