APRIL ISSUE: Hudson Yards Launches a Neighborhood

As the massive, $15 billion Hudson Yards development begins to take shape on Manhattan’s West Side, the commercial real estate world is taking notice.
Photo: Anna Spiewak/CPE

Photo: Anna Spiewak/CPE

As the massive, $15 billion Hudson Yards development begins to take shape on Manhattan’s West Side, the commercial real estate world is taking notice and in many cases taking steps to be part of the city’s newest neighborhood.

Coach Inc., L’Oreal USA and software corporation SAP have been on board for more than a year, committing to 85 percent of the space in 10 Hudson Yards. Last summer, Fairway Market agreed to take nearly 48,000 square feet on the ground floor of the building, which will open in 2015.

In January, Time Warner Inc. struck a deal with the developers, The Related Cos. and Oxford Properties Group, to relocate its corporate headquarters and approximately 5,000 employees from Time Warner Center on the Upper West Side to 30 Hudson Yards, an 80-story office skyscraper to be built in early 2019. The media giant is taking more than 1 million square feet in the 2.6 million-square-foot tower due for completion in 2018.

Read the full article in the April 2014 issue of CPE. Access is free!