Hudson Yards

A rendering of One Hudson Yards, designed by renowned architecture firm Davis Brody Bond. (Image via onehudsonyards.com/Related)

August 7, 2017

Leasing launches at One Hudson Yards, luxury rentals starting at $5,095/month

By Michelle Cohen

The new luxury rental residences at One Hudson Yards at 530 West 30th Street, part of Manhattan's largest new mixed-use development, have begun leasing for the 30-story building's 178 apartments which range from one to three bedrooms (and one four-bedroom penthouse) according to a press release from Related Companies. The building's architecture is by Davis Brody Bond; interiors are by Andre Kikoski, who also designed the building's peerless collection of luxury amenities. Of particular note are extra-tall windows set into a modern curtain wall façade that offer breathtaking views of out over the Hudson River, the surrounding West Chelsea neighborhood and all of Downtown Manhattan–as well as Heatherwick Studios’ "Vessel" sculpture.
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Follow-up report says next year’s 11 percent NYC vacancy rate is bogus

Image: Pexels

August 7, 2017

Follow-up report says next year’s 11 percent NYC vacancy rate is bogus

By Michelle Cohen

6sqft recently reported on a forecast by online real estate marketplace Ten-X predicting a precipitous threefold spike in New York City’s apartment vacancy rate that could even exceed 11 percent by the end of next year as thousands of new apartments hit the market, adding up to a "grim reckoning” for landlords. Now, a Crains reporter tells us that skeptics like marketing-consultant-to-developers Nancy Packes, who said the prognostication of a rental market meltdown “didn’t make any sense,” could be right after all.
Let's hear more

Real Estate Trends

Report predicts NYC’s vacancy rate will triple alongside falling rents

Image: Pexels

August 2, 2017

Report predicts NYC’s vacancy rate will triple alongside falling rents

By Michelle Cohen

A new forecast by online real estate marketplace Ten-X predicts that New York City's apartment vacancy rate will exceed 11 percent by the end of next year as thousands of apartments hit the market, the Wall Street Journal reports. The study also points to a slowing job growth rate, which drives the rental market, as a factor in what could be a "grim reckoning" for landlords.
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Real Estate Trends

Nearly complete tunnels under Hudson Yards need more funding to finish

Photo of Hudson Yards Amtrak tunnel encasement via Tutor Perini

July 21, 2017

Nearly complete tunnels under Hudson Yards need more funding to finish

By Devin Gannon

Currently, the first part of two box tunnels under the Hudson Yards development, below 10th and 11th Avenues on Manhattan’s west side, sits mostly finished. While construction of the final piece has yet to begin, when it’s complete the remaining section would link the tubes to the proposed new tunnel under the Hudson River, providing better access to Penn Station. However, according to the New York Times, both tunnel projects, which fall under the multi-billion dollar Gateway Program, lack the funding needed to finish.
More details here

May 25, 2017

Hudson Yards’ art center The Shed wraps up steel construction on its movable shell

By Dana Schulz

After an announcement yesterday morning that Michael R. Bloomberg made a $75 million gift towards Hudson Yards' arts center The Shed--bringing the total raised towards the $500 million capital campaign to $421 million--the "new center for artistic innovation" held a tour to mark the completion of steel construction. The eight-story structure, designed by Diller Scofidio & Renfro in partnership with the Rockwell Group, is a "fixed" base building made up of two gallery levels, a versatile theater, rehearsal space, creative studios for artists, and a sky-lit event space. But what makes the project truly unique is its telescoping outer shell that deploys over the building's courtyard, doubling its footprint and creating a myriad of options for flexible, multi-disciplinary work. Ahead, 6sqft shares an up-close view of this amazing structure.
See all the views and get more info

May 24, 2017

First look at CetraRuddy’s proposed hotel-apartment tower for Hudson Yards

By Devin Gannon

Back in September, the developer Joseph Chetrit filed plans to build a 48-floor mixed-use tower with 421 hotel rooms and 135 residential units in the Hudson Yards neighborhood. Now, the wait is over as renderings of Chetrit Group’s proposed tower at 541-545 West 37th Street have officially been revealed. As CityRealty learned, CetraRuddy Architecture is designing the high-tech skyscraper, which is expected to rise 622 feet and overlook the future Hudson Boulevard Park. The building will span 621,000 square feet and include exhibition, retail, hotel and residential spaces.
More details and renderings

The Shed via Wikipedia

May 24, 2017

Michael Bloomberg gives $75 million to Hudson Yards arts center The Shed

By Michelle Cohen

Michael R. Bloomberg has added a $75 million contribution to what the New York Times calls "New York's first new cultural institution in recent memory," the arts center known as The Shed, part of the new Hudson Yards development on Manhattan's far west side. The former mayor's gift brings the total raised for the project to $421 million of its $500 million capital campaign. The new arts center has gotten much of its funding from a small group of billionaires that includes Related Companies' Stephen M. Ross and media mogul Barry Diller. Set for completion in 2019, the eight-level structure, designed by Diller Scofidio & Renfro in partnership with the Rockwell Group, will host performances, concerts, visual art, music and other events.
A 'tool kit for artists'

May 9, 2017

New renderings of Hudson Yards’ retail and restaurant spaces

By Dana Schulz

Yesterday, it was announced that celebrity chef José Andrés, credited with bringing the small-plate concept to the U.S., will be opening a massive Spanish food hall at Hudson Yards, closing a deal for the 35,000-square-foot space at 10 Hudson Yards that Shake Shack guru Danny Meyer had previously been in talks for. On the heels of the news, developers Related Companies and Oxford Properties Group released new renderings of the retail and restaurant spaces coming to the mega-development (h/t Curbed), most of which will be located in the "Shops and Restaurants at Hudson Yards," a seven-story building that will hold the majority of the 25 restaurants and anchor tenant Neiman Marcus.
More renderings and details ahead

Related’s Stephen Ross kicks off construction on Hudson Yards’ 150-foot climbable ‘Vessel’

First Piece of Vessel Installed 04.18.2017 – courtesy of Related-Oxford

April 18, 2017

Related’s Stephen Ross kicks off construction on Hudson Yards’ 150-foot climbable ‘Vessel’

By Devin Gannon

The standard for public art spaces has officially reached new heights. Today, the installation has begun on Vessel, an innovative landmark designed by Heatherwick Studio at Hudson Yards. As 6sqft previously wrote, the project’s idea stems from Related Companies' chairman Stephen Ross, who chose Heatherwick to design the $200 million (up as of today from the original $150 million estimate) large-scale piece of art. After being fabricated and constructed in Monfalcone, Italy, the first ten pieces of the 150-foot-tall steel structure arrived in January at the Port of Newark via ship and then traveled across the Hudson River. And as of this morning, Ross was on site to mark the first of these massive components (they each weigh close to 100,000 pounds) being put into place by crane.
See photos from Vessel's installation and watch a video of Stephen Ross' remarks

March 16, 2017

Huge Whole Foods coming to Brookfield’s Manhattan West

By Dana Schulz

Along with its glassy towers on the rise and big-name corporations leasing office space, the Hudson Yards district is now displaying another show of how the mega-development is pushing the once-desolate Midtown West area forward--the announcement of a 60,000-square-foot Whole Foods. The green grocer will move into Brookfield Property's eight-acre Manhattan West complex, located at 5 Manhattan West on the corner of 10th Avenue and West 31st Street, directly across from Related's Hudson Yards. Echoing the sentiment of the "Whole Foods effect"--the pattern of real estate values increasing when high-end grocery stores open nearby, both due to convenience and prestige--a press release from the developer says the news "is a significant first step in creating a first-of-its-kind global retail hub at Manhattan West."
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Real Estate Trends

March 3, 2017

Mysterious ‘Japan Land’ renderings reveal a lantern-inspired building near Penn Station

By Diane Pham

Currently, at the corner of 8th Avenue and 31st Street, diagonal from Penn Station, you'll find a parking lot, pizza joint, and a small coffee shop. However, Nobutaka Ashihara Architects (NAA) envisions something much more spectacular for this underused locale. According to CityRealty, NAA recently rolled out a brand new website, and prominently featured on their home page is a curious scheme for a lantern-like glass tower of about 12 stories called "Japan Land."
more views here

New Developments

January 13, 2017

Pieces of Thomas Heatherwick’s massive, climbable ‘Vessel’ arrive at Hudson Yards site

By Michelle Cohen

Back in September, Related Companies chairman Stephen Ross finally unveiled the large-scale artwork that would anchor the central public space within Hudson Yards. As Ross revealed, Thomas Heatherwick was chosen to design the piece, and it would cost an incredible $150 million to build. Dubbed "The Vessel,” the climbable sculpture would rise 16-stories—150 feet tall, 50 feet wide at its base and 150 feet wide at the top—and consist of a web of 154 concrete and steel staircases with 2,500 steps, 80 landings and an elevator; the piece, in fact, so massive that it could comfortably accommodate 1,000 visitors at a time. The sculpture was to be constructed in Monfalcone, Italy before being shipped to its home on the Hudson River. And now CityRealty reports that parts of what Ross once called "New York's Eiffel Tower" have officially arrived at the site and await assembly.
More photos this way

January 11, 2017

Norman Foster’s 50 Hudson Yards gets $195M in tax breaks from the city

By Dana Schulz

When completed, Related Companies‘ and Oxford Properties Group’s 50 Hudson Yards will be the city's most expensive office building, coming in at $3.94 billion. To make starchitect Norman Foster's pricey vision a reality, the developers had filed an application with the New York City Industrial Development Agency to take advantage of financial incentives that were enacted in 2006 to encourage development in Hudson Yards. And according to a new report in Crain's, the agency has approved $195 million in such tax breaks, which include making fixed payments towards the 985-foot tower's development costs instead of paying property taxes that vary from year to year, as well as receiving a discount on the mortgage recording taxes.
Find out more right here

January 4, 2017

Norman Foster’s 50 Hudson Yards will be city’s most expensive office building at $4B

By Dana Schulz

It's been less than a month since it was revealed that starchitect Norman Foster would be designing the Related Companies' and Oxford Properties Group's 50 Hudson Yards commercial tower, but the developers have already pegged the cost of the project at $3.94 billion, which will make it the city's most expensive office building, reports The Real Deal. The 985-foot tower, where BlackRock has already signed a 20-year lease for 15 floors, will surpass One Vanderbilt's projected $3.14 billion price tag and Bjarke Ingels' planned $3 billion+ High Line tower known as The Spiral, as well as One World Trade Center's current record of $3.8 billion.
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December 8, 2016

Norman Foster will design 985-foot tower at 50 Hudson Yards

By Dana Schulz

It's been 14 months since developer Related Companies bought the site of a former McDonald's at 34th Street and 10th Avenue, the final parcel needed to complete Hudson Yards. Initial reports said the site of 50 Hudson Yards would hold a 62-story, 1,000+ foot commercial tower, but Related and Oxford Properties Group have now revealed that the structure will rise 58 stories and 985 feet and be designed by starchitect Norman Foster. As first reported by Curbed, the news comes on the heels of BlackRock's decision to sign a 20-year lease for 15 floors, or 850,000 square feet, in the building, leaving their long-time Park Avenue home in a show of confidence in the mega-complex.
Get more details ahead

NYC’s next superblock: Development goes into overdrive along far West 29th Street

Google Earth rendering created by CityRealty

November 16, 2016

NYC’s next superblock: Development goes into overdrive along far West 29th Street

By Michelle Sinclair Colman

It is not often that a single block stands out in a city like New York. But a huge transformation is occurring at the junction of 29th Street. West 29th Street, in between 10th and 11th avenues, is the transition point between three neighborhoods: West Chelsea, Hudson Yards and the Far West Side. The massive […]

October 25, 2016

Report: Construction spending beat $127B over past three years, set to surpass 2007 peak

By Michelle Cohen

An estimate by the New York Building Congress has construction spending in 2016 at more than $43.1 billion, beating the $41.6 billion high of 2007 and reflecting a 26 percent increase from last year's $34.4 billion, the Wall Street Journal reports. The surge in construction, led by mega-project Hudson Yards on Manhattan's West Side and public projects like the Second Avenue Subway, has led to rising construction costs and an attendant surge in the demand for skilled labor, bringing workers to the city from all over the U.S.
Find out more about what's driving the new boom

Real Estate Trends

Listings go live for Extell’s amenity-filled Hudson Yards Skyscraper 555Ten

Model unit designed by Lillian August

October 20, 2016

Listings go live for Extell’s amenity-filled Hudson Yards Skyscraper 555Ten

By Dana Schulz

After launching its affordable housing lottery for 120 below-market rate units back in May, 555Ten has revealed pricing for its 478 market-rate rentals, ranging from $3,150/month studios to $6,250/month two-bedrooms. Designed by SLCE Architects and developed by Extell, the 610-foot, 53-story glassy skyscraper will offer an over-the-top amenity package (including a dog run, two salt water pools, and a bowling alley) and custom-designed interiors from McGinley Design. The model units are open for business, and we're told that the amenity spaces will start to reveal themselves later this week in anticipation of November occupancies.
Find out more here and get a first look at the model units

October 19, 2016

Listings go live at 15 Hudson Yards, the development’s first residential building

By Dana Schulz

In anticipation of its sales launch, 15 Hudson Yards released a slew of new renderings last month, showcasing "new views of the bundled quad of cylinders that make up its body, as well as its rectilinear base that will abut the Shed," as 6sqft reported. And now without further ado, listings for the 285 market-rate condos (there will also be 106 affordable rentals) have officially come online, ranging from a $3.7 million two-bedroom on the 25th floor to a $13.8 million penthouse on the 84th floor, according to Curbed.
Find out more and see renderings and floorplans

September 30, 2016

Tishman Speyer officially files plans for Bjarke Ingels’ $3.2B Hudson Yards tower

By Dana Schulz

Developer Tishman Speyer has officially filed plans with the Department of Buildings for Bjarke Ingels' Hudson Yards tower The Spiral at 509 West 34th Street. As reported by The Real Deal, the filing confirms that the office tower will rise 65 stories and 1,005 feet and encompass 2.2 million square feet. When renderings were first released of the $3.2 billion project, which is distinguished by cascading landscaped terraces and hanging gardens, Ingels said his design "combines the classic ziggurat silhouette of the premodern skyscraper with the slender proportions and efficient layouts of the modern high-rise."
More details ahead

September 14, 2016

REVEALED: Thomas Heatherwick’s $150M climbable Hudson Yards sculpture ‘The Vessel’

By Dana Schulz

It was nearly three years ago that Related Companies chairman Stephen Ross boasted that Hudson Yards' public art piece would be "New York’s Eiffel Tower," and after an unveiling today of the massive sculpture that will anchor the central public space, it seems he might not have been too far off.
More details and renderings this way

September 12, 2016

New views of curvaceous 15 Hudson Yards ahead of this week’s sales launch

By Dana Schulz

15 Hudson Yards, the first of two residential towers that Related Companies and Oxford Properties have planned for the massive complex, started its climb into the far west side skyline back in March, and now, seven months later, it's readying for a sales launch this week. According to a press release, condos will start at about $2 million for one-bedrooms and go up to $30 million for the penthouses. To coincide with the 285 market-rate condos hitting the market (there will also be 106 affordable rentals, for which details have yet to be released), YIMBY has gotten its hands on new renderings of the 910-foot building, which, as 6sqft previously described, has been dubbed the "Morph Tower" for its "curvaceous and feminine design" from Diller Scofidio + Renfro in collaboration with Rockwell Group. The images provide new views of the bundled quad of cylinders that make up its body, as well as its rectilinear base that will abut the Shed.
More renderings and details ahead

September 2, 2016

Live in SOM’s new Hudson Yards project for $913/month, lottery launching for 169 units

By Dana Schulz

6sqft revealed renderings at the beginning of the year of Skidmore, Owings & Merrill's Hudson Yards-adjacent, five million-square-foot Manhattan West project, which "will include two office towers, a rental tower with 844 apartments at 435 West 31st Street, retail space and a new landscaped public plaza designed by James Corner Field Operations, the firm responsible for the design of the High Line." As of Tuesday, September 6th, New Yorkers earning 60 percent of the area median income can apply for 169 affordable apartments in the residential tower; they'll range from $913/month studios to $1,359/month three-bedrooms.
Find out if you qualify here

Affordable Housing

August 3, 2016

Live in a Flashy New Tower Near Hudson Yards for $913/Month, Lottery Opens Tomorrow

By Dana Schulz

Just this week, BKSK Architects' dapper new mixed-use tower in the Hudson Yards district topped off at 345 feet. Located at 509 West 38th Street and dubbed the Hi-Side, the 30-story building is just four blocks from the new 7 train stop and adjacent to the forthcoming Hudson Park Boulevard. When it opens its doors next year, it will offer 225 rentals, 46 of which will be reserved for New Yorkers earning 60 percent of the area media income. As of tomorrow, the latter batch of residences will be up for grabs through the city's affordable housing lottery, with units ranging from $913/month studios to $1,183/month two-bedrooms.
Find out more right here

Affordable Housing

July 22, 2016

Pricing Revealed at 15 Hudson Yards; ‘Sphere’ Sculpture Will Return to WTC Site

By Dana Schulz

The 285 market-rate units at Related’s 15 Hudson Yards will start at $2 million. The two most expensive condos will be $32 million. [TRD] Fritz Koenig’s 27-foot-high bronze sculpture “Sphere for Plaza Fountain” will be reinstalled at the World Trade Center site this year after being located in the Battery for the past 14 years. [NYT] […]

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July 11, 2016

The Evolution of Related Companies: From Affordable Housing to Hudson Yards

By Emily Nonko

There’s only one developer in New York currently tasked with building an entire city neighborhood, and that’s the Related Cos. In 2008, Related embarked on Hudson Yards, a type of project never before tackled in New York—28 acres of apartments, office space, retail, parkland (and a subway stop, to boot) on top of the West […]

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