The Real Deal New York

Brookfield taps Marketing Directors for Manhattan West rental

Tower will have 844 units, 20 percent affordable

February 27, 2015 03:00PM
By E.B. Solomont

gerringer

435 West 31st Street and Andrew Gerringer

The Marketing Directors will be in charge of leasing Brookfield Office Properties’ planned 62-story rental building on the Far West Side, The Real Deal has learned.

The Manhattan West residential tower, located at 435 West 31st Street, will have 844 units, 20 percent of which will be affordable. The SLCE-designed tower is part of Brookfield’s seven million-square-foot development in the Hudson Yards complex. Plans for the development include the rental tower, a 60,000-square-foot plaza, five-star hotel and office buildings.

Andy Gerringer, Marketing Directors’ managing director, said Brookfield is still tweaking floor plans at the rental tower. “It’s the first inning,” he said. “We’re trying to think out of the box a little because it is being delivered two years down the road.”

Units in the building will range from studios to two-bedroom apartments. Prices aren’t being disclosed yet, but Gerringer said the pads are likely to rent for between $80 to $85 per square foot. Amenities include a regulation-size basketball court, climbing wall, kitchens and dining rooms for private events and a roof deck.

Brookfield broke ground on the $800 million tower in January, and construction is set to wrap up in 2018. The real estate investment trust paid $93 million to buy building bonuses in order to build the tower, as TRD reported.

Gerringer cited 450 West 33rd Street, which Brookfield is converting into high-tech offices, as a potential “feeder for the rental building.”

MENU