Can Related apply its Time Warner Center touch to Hudson Yards?

The Real Deal spoke to Ken Himmel, the CEO of Related Urban, about his strategy for locking in tenants, the history of big box retail and navigating the new market reality.

Mar.March 01, 2018 12:55 PM

Ken Himmel is spearheading the hotel-and-retail ground game for the Related Companies at its gargantuan Hudson Yards project on the Far West Side.

That’s no easy task in today’s market, where every other day there’s another headline about the struggles facing bricks-and-mortar retail in today’s buy-it-on-Amazon world. In 2017, the number of retailers who declared bankruptcy hit a six-year high and malls have taken an especially hard hit.

Related: How is Himmel shaping Hudson Yards?

Still, Related is well on its way to filling up 1.2 million square feet of retail space. The project’s main retail hub — dubbed the Shops & Restaurants at Hudson Yards and anchored by luxe department store Neiman Marcus — is already 70 percent leased, according to Related. But with billions of dollars in financing on the line, the stakes for success are high.

The Real Deal spoke to Himmel, the CEO of Related Urban and a reported mix-used guru, about his strategy for locking in tenants, the history of big box retail and navigating the new market reality.

Video produced by Jhila Farzaneh


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Eliot Spitzer & Eran Chen

“That’s the best you can do?” Eliot Spitzer and Eran Chen on their recent project

Howard Lorber in Concert

WATCH: Howard Lorber in concert(!)

Alex Rodriguez

Watch: A-Rod on the benefits and pitfalls of being a celebrity investor

Watch: Chany Rosen’s expediting rollercoaster

Watch: Chany Rosen’s expediting rollercoaster

Chany Rosen

Watch: Chany Rosen’s expediting rollercoaster

arrow_forward_ios