RXR may lend a hand with Youngwoo’s SuperPier

560,000-square-foot, $200 million waterfront complex is scheduled to open next year

From left: Young Woo, Pier 57 and Scott Rechler
From left: Young Woo, Pier 57 and Scott Rechler

Developer Young Woo is reportedly enlisting some help to bring a $200 million waterfront project dubbed the SuperPier to fruition.

RXR Realty is in negotiations to assist Youngwoo & Associates in developing the 560,000-square-foot retail complex on Pier 57 at West 15th Street, sources told Crain’s. Neither Youngwoo & Associates nor RXR confirmed the rumor. The size of the investment and the influence over the project RXR remains unclear, according to the news site.

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The pier is scheduled to open next year. As currently envisioned, the project would rent out 430 shipping containers along the dock to entrepreneurs for as little as $3,000 per month. Youngwoo & Associates announced three large tenants last September: a spa and beach club spearheaded by hotelier Andre Balazs, clothing retailer Opening Ceremony and a climbing gym operated by Brooklyn Boulders.

Youngwoo & Associates is currently negotiating the terms of a 49-year lease at Pier 57 with the site’s administrator, the Hudson River Park Trust, Crain’s reported. [Crain’s] — Tom DiChristopher