By Kaitlin Ugolik (April 10, 2014, 5:25 PM EDT) -- Residential development company Black House, which is building a luxury condominium building in the under-construction Hudson Yards development on Manhattan's west side, has reportedly reached a deal to buy a portfolio on the corner of West 38th Street and 11th Avenue with plans to build a hotel and residential building on the site. Crain's reported that Black House operator Sean Ludwick has agreed to purchase the prices with an Asian investment partner for about $115 million. That price also reportedly includes air rights that the partnership plans to acquire from the city in order to build a 700-foot-tall, 380,000-square-foot hotel and residential tower. The hotel will take up about 65 percent of the building, while 115,000 square feet on the top floors will be reserved for luxury condominiums that will be marketed to Chinese buyers, according to Crain's....