Hudson Yards hype created a flurry of interest in the neighborhood’s condos

Resi searches on StreetEasy spiked 257% the week of the opening

TRD NEW YORK /
Mar.March 22, 2019 10:07 AM

35 and 15 Hudson Yards (Credit: New Hudson Facades)

The buzz leading up to Hudson Yards’ opening last week drew tons of curious eyes to the new neighborhood’s growing housing stock.

The number of residential real estate searches in Hudson Yards between March 12 and March 15 spiked, Crain’s reported, citing StreetEasy data. Searches soared 257 percent compared with the previous week.

And StreetEasy searches peaked on the day of the opening, March 15 — with a jump of 630 percent over the previous Friday. The Related Companies development currently has one residential building, 15 Hudson Yards, open for occupancy. In June, 35 Hudson Yards will open to buyers.

Living in the neighborhood comes with a steep price tag: The average price of 15 active sales at 15 Hudson Yards — which, as of January, had $800 million under contract — is $7.69 million.That’s roughly five times the median price of all Manhattan homes, which is $1.63 million. And at the tallest condo project in the development, the $1.53 billion 35 Hudson Yards, apartments start at $5 million.

Similarly, the median price per square foot at 15 Hudson Yards is $3,223 — or about $1,700 more than the median asking price per square foot across Manhattan luxury homes. Last week, six active rentals there had an average asking price of $9,132 a month.

Hudson Yards’ grand opening last week drew crowds at the area’s new vertical mall. Industry power players including GFP Real Estate’s Jeff Gural and Jane Gural-Senders, HFZ Capital’s Ziel Feldman, Two Trees Management’s Jed Walentas, Harry Macklowe, L&L Holding’s Rob Lapidus, Cushman & Wakefield’s Doug Harmon and Adam Spies, were among the thousands of guests. [Crain’s] — Meenal Vamburkar


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