Irreplaceable Manhattan Building with 5%+ Yield Offered to International Investors

422 Hudson Street, Manhattan — Over 5% Yield, Fully Free-Market, and Designed for Hands-Off Ownership from Abroad

NEW YORK, May 5, 2026 /PRNewswire/ — NYR.com — New York Residence Inc., a Manhattan investment sales firm specializing in landmark and institutional-quality assets, is offering 422 Hudson Street, a historic mixed-use building in the heart of the West Village, to investors at an asking price of US$11,250,000.

The property is located within walking distance of the Manhattan offices of Google, Disney, and Meta (formerly Facebook), placing it at the center of one of New York City’s most desirable and supply-constrained residential submarkets. West Village zoning and landmark protections sharply limit new construction, supporting long-term value and consistent leasing demand. The building is fully rented and can be delivered as turnkey operation, easy to manage even from afar.

Built in 1875, the four-story landmarked building contains three free-market residential apartments and a ground-floor commercial space. The retail tenant, Lelabar, is among New York’s most acclaimed wine bars, recognized by Travel + Leisure, The Wine Enthusiast, CBS, and Wine Spectator. Lelabar has operated successfully at this location for more than 20 years and remains a thriving neighborhood institution, with a long-term lease in place through 2032 and contractual 3% annual rent escalations.

The building has recently undergone a comprehensive renovation completed in close coordination with the New York City Landmarks Preservation Commission, which is particularly protective of the West Village historic district. Improvements include a new roof, new gourmet kitchens in each apartment, multi-zone central air conditioning, and sound-insulating windows — all executed while preserving the building’s original architectural character, including exposed timber beams, original brick walls, and wood-burning fireplaces.

422 Hudson Street is fully leased and 100% free-market. In-place gross rent is approximately US$710,000 per year, with a proforma capitalization rate exceeding 5% based on contractual lease extensions. The property is professionally managed and structured for fully hands-off ownership, making it well suited to overseas investors seeking secure U.S. dollar income from a trophy Manhattan address without day-to-day involvement.

A complete information package — including the offering memorandum, rent roll, expense schedule, floor plans, and photography — is available to qualified investors upon request. “It is rare to find a fully free-market, renovated West Village asset at this price point, especially with stabilized retail income and such limited operational requirements,” said Thomas Guss, President and Broker at New York Residence Inc.

Media & Investor Contact
Thomas Guss, President / Broker
New York Residence Inc.
Office: +1 (212) 360-7000 ext. 103 | Direct: +1 (212) 365-4751
Email: TG@NYR.com | Web: NYR.com

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SEOUL, South Korea, May 5, 2026 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, announced today that it is unveiling its next-generation OLED technologies at SID Display Week 2026, further strengthening its OLED leadership.

During the exhibition, held at the Los Angeles Convention Center from May 5 to 7, LG Display will present OLED display solutions optimized for the AI era under the theme, “OLED Evolution for the AI Era.” SID Display Week is the world’s largest display event, where global companies and researchers gather to present research papers and showcase mid- to long-term future technologies and new products.

LG Display is organizing its booth into three zones: “Tandem WOLED,” “Tandem OLED,” and “Innovative Technology.” It is introducing a full OLED lineup spanning large-sized, medium-sized, and automotive applications. In particular, the company is showcasing third-generation Tandem OLED for the first time, reinforcing the leadership of its proprietary Tandem OLED technology.

Third-generation Tandem OLED features 18% lower power consumption and more than twice the lifespan of the previous generation.

As a technology that stacks multiple organic light-emitting layers to enhance brightness, efficiency, and durability, Tandem OLED was first commercialized by LG Display in 2019. Three years after launching the mass production of second-generation Tandem OLED in 2023, the company is now presenting the next evolution.

Designed for automotive applications, LG Display’s initial third-generation Tandem OLED panel delivers brightness as high as 1,200 nits and is built to maintain performance for more than 15,000 hours at room temperature without display degradation.

This advancement is enabled by a newly developed OLED element that optimizes hole and electron movement to minimize degradation while ensuring uniform picture quality, along with the application of a deep blue dopant to further improve color purity, color reproduction, brightness, low power consumption, and longevity. LG Display plans to begin mass production of the automotive panel within this year before later expanding into IT and other applications.

The company is also highlighting its OLED capabilities in the emerging field of physical AI, such as robots. LG Display’s P-OLED solution for humanoid robots is making its public debut, featuring high-performance Tandem OLED technology designed to withstand the rigors of automotive environments.

P-OLED offers high design flexibility, making it suitable for various robot form factors, while also meeting the demanding requirements of humanoids, including being able to operate in diverse environments and temperature conditions. LG Display sees automotive Tandem OLED technology as the most suitable solution in this field because it can deliver durability, high brightness, and long life. Building on its expertise in automotive displays, the company plans to expand its presence in the physical AI sector.

LG Display is also showcasing its industry-leading OLED innovations across multiple segments. Its OLED TV panel featuring the company’s proprietary Primary RGB Tandem 2.0 technology maximizes light efficiency through an advanced pixel structure and enhanced algorithms. This enables peak brightness of 4,500 nits along with ultra-low reflectance of 0.3%, the lowest among existing displays.

In the gaming segment, LG Display is exhibiting a 27-inch OLED panel with a 720Hz refresh rate — recognized as Display of the Year by SID — as well as the world’s first 39-inch 5K2K ultra-high-resolution curved OLED panel.

It is also demonstrating a 27-inch OLED panel that achieves 5K resolution at 220 PPI, featuring a newly designed RGB stripe structure that enhances the aperture ratio. This improves color clarity and precision while minimizing distortion such as color bleeding and fringing.

For IT devices, the company is introducing a 16-inch Tandem OLED optimized for AI laptops. Compared to conventional OLEDs, it is thinner and lighter while improving power efficiency, extending battery usage by up to 2.3 hours, and significantly enhancing portability.

In addition, LG Display is presenting a concept car with automotive display solutions tailored for Software Defined Vehicles (SDVs), including a 57-inch P2P panel spanning from driver to passenger seat and a 32-inch Slidable OLED that retracts into the ceiling and is deployed when needed.

“Our unrivaled R&D capabilities have led the world in first-of-their-kind and best-in-class OLED innovations,” said Choi Young-seok, Chief Technology Officer at LG Display. “We will continue to put customers first and firmly establish our leadership as a technology-driven company that steers the future of displays.”

About LG Display
LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 53,049 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:
Joo Yeon Jennifer Ha, Team Leader, Communication Team
Email: hjy05@lgdisplay.com

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