Manhattan new development overview


Trying to evaluate development in Manhattan, The Real Deal analyzed all projects filed with the Department of Buildings that had not yet received a TCO, or temporary certificate of occupancy, meaning the projects not yet on the market. Related Companies remained the most active developer in Manhattan for the second year in a row with 3.5 million square feet of projects being developed. 

It should come as no surprise that 50 Hudson Yards, the largest project under development in Manhattan, is a Related project. At 2.3 million square feet, the one project accounts for over 60 percent of the company’s developing portfolio in the borough. Altogether, the top 10 projects under development in Manhattan will add 14 million square feet to the skyline once completed.

 
Stephen Ross Related Companies
Stephen Ross
Related Companies
Jerry Speyer Tishman Speyer
Jerry Speyer
Tishman Speyer

Developers with the Most Sq. Ft. of Projects in the Works

Page 58 1 Developers with the Most Sq. Ft.

RankDevelopersq. ft.no. of projects
1Related Companies3.5M$5
2Tishman Speyer2.2M$1
3Brookfield2M$2
4 (tie)JPMorgan Chase1.9M$1
4 (tie)L+M Development Partners1.9M$5
6 (tie)SL Green Realty1.6M$3
6 (tie)Extell Development1.6M$3
8HFZ Capital Group1.1M2
9Walt Disney Company855,175$1
10Lam Group809,989$3

10 Biggest Manhattan Projects Under Development

page 58 2 10 Biggest Manhattan Projects Under Development

Rankaddressarchitectdevelopersq. ft.resi unitsheight (ft.)
150 Hudson YardsAdamson Associates ArchitectsRelated Companies;
Oxford Properties Group
2.3M$01,011
2509 West 34th StreetAdamson Associates ArchitectsTishman Speyer2.2M$9621,041
3270 Park AvenueAdamson Associates ArchitectsJPMorgan Chase1.9M$01,322
4401 West 31st StreetSkidmore, Owings & MerrillBrookfield Property Partners1.8M$0902
51 Vanderbilt AvenueKohn Pedersen Fox AssociatesSL Green Realty1.3M$01,404
6550 West 34th StreetKohn Pedersen Fox AssociatesRelated Companies1.1M$0768
7260 12th AvenueSkidmore, Owings & MerrillGeorgetown Company1M$0828
8310 Hudson StreetSkidmore, Owings & MerrillWalt Disney Company855,175$0290
9435 West 31st StreetSLCE ArchitectsBrookfield Property Partners; Qatar Investment Authority807,384844702
10360 Tenth AvenueSLCE ArchitectsMcCourt Global780,435$153774

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