Commercial space at the Related Companies’ Hudson Yards megadevelopment is getting scooped up at a swift clip.
Technology firm SAP, leather retailer Coach and cosmetics brand L’Oréal are among the tenants to lease space at the 1.7 million-square-foot south tower. Roughly 300,000 square feet remains there. Meanwhile, 900,000 square feet is available at the 2.6 million-square-foot north tower, which is slated to house Time Warner Inc. after a deal is finalized.
“Active negotiations are going on for all 800,000 square feet” of the restaurant and store space at the north tower, CBRE broker Robert Alexander told the New York Post.
Last week, the Department of Buildings approved the demolition of four commercial properties on a prospective development site near the Hudson Yards. The property was recently purchased by the Chetrit Group, as The Real Deal reported. [NYP, 3rd item] — Mark Maurer