The Real Deal New York

Related signs retail lease across from its High Line condo project

The firm signed on for 10.6K sf at HFZ's 505 West 19th
By Christian Bautista | August 02, 2018 10:20AM

505 West 19th Street and Stephen Ross of Related

Related Companies is taking two retail spaces across from its High Line-adjacent condominium project.

The developer signed a lease for two commercial condo units at HFZ Capital Group and Carlyle Group’s 505 West 19th Street, according to records filed with the city Wednesday. The units total 10,600 square feet between the cellar and the ground floor. The lease was signed on June 13.

Related is currently developing a Thomas Heatherwick-designed condo tower across the street at 515 West 18th Street. The building, which will be called the Hudson Residences, is expected to contain 180 apartments. Related previously commissioned Heatherwick to design the public art structure, the Vessel, at Hudson Yards.

It’s unclear what Related plans to do with the retail space at West 19th Street. Representatives for Related and HFZ did not return requests for comment. One possible use for the space is a sales gallery, which the company often opens next to its condo projects. Related previously set up an 18,000-square-foot sales gallery at the 24th floor of 10 Hudson Yards called the “Hudson Yards Experience Center.” At 520 West 28th Street, it operates the Zaha Hadid Sales Gallery onsite.

Related’s new space sits at the base of a 10-story, 31-unit luxury condo development designed by Thomas Juul-Hansen. Last year, HFZ and Carlyle consented to a “business divorce” at the property. Carlyle bought the four remaining unsold units in the building for $44.1 million and re-listed the apartments soon after.