The multibillion-dollar Hudson Yards development has been making a major push to woo prospective corporate tenants, the New York Times reported.
Hudson Yards — which will span from 30th to 42nd streets, between Eighth Avenue to the Hudson River — is expected to create roughly 25 million square feet of office space, 3,200 hotel rooms and 20,000 residential units, a quarter of which have already begun construction.
The project’s major players — including Related Companies, Brookfield Office Properties, Extell Development Company, the Moinian Group and Alloy Development — have started to put money into marketing. The most aggressive of these is Related, which is currently focused on the eastern portion of the development, and has secured Coach as an anchor tenant for its 1.7 million-square-foot building known as South Tower. Related is also close to securing enterprise software company SAP and cosmetics giant L’Oreal, according to the Times.
Projects owned by other developers include Brookfield’s Manhattan West, which broke ground on the site on Tuesday. Along with apartments and retail space, Manhattan West will have four million square feet of office space and a 1.5-acre public park. We are the gateway site to Hudson Yards, with the greatest linkage to transportation,” said Dennis Friedrich, chief executive of Brookfield. And Extell’s president Gary Barnett added that his own company’s One Hudson Yards project would be very aggressively priced. [NYT]- Hiten Samtani