HUDSON YARDS: What you need to know

In 2005, Related and Oxford Property Group began construction work on the West Side of Manhattan. This led to the creation of Hudson Yards, the largest private real estate project in the United States (in terms of surface area). Located between 10th and 11th avenues, the first phase of this multi-billion dollar project finally opens its doors on March 15, 2019.

For several months, New York real estate has been the subject of debate. As we mentioned in our previous newsletter, Amazon was planning to open its second headquarters in New York; this would have created, among other benefits for the city, more than 25,000 jobs, in return for which 3 billion tax breaks would have been granted. In light of these recent events, some seem to forget that the city has also provided significant support to the Hudson Yards project, and has done so for over a decade …

Here is the detail of the project:

The Shops and Restaurants at Hudson Yards : 7 stories of shops, major brands an retailers and over 25 restaurants.

Vessel : Interactive artwork designed by Thomas Heatherwick as a public meeting place allowing visitors to see New York from a new perspective through different angles.

Edge : At over 300 meters, Edge will be the tallest outdoor observation deck in the Western Hemisphere, as well as the fifth tallest in the world. The opening date has still not been announced but reservations are already open for the first quarter of 2020.

15 Hudson Yards : The project’s first residential building, over 85 meters high, designed by Diller Scofidio + Renfro and the Rockwell group. More than half of the apartments have already been sold.

30 Hudson Yards : The tallest tower in the project, designed by architectural firm Kohn Pedersen Fox Associates. This tower will include the Edge Observation Deck.

35 Hudson Yards : Multipurpose Tower, designed by David Childs of Skidmore, Owings + Merrill. It contains 143 apartments, as well as an Equinox sports club. A luxury hotel will also open its doors there in the coming years.

55 Hudson Yards : Kohn Pedersen Fox joined forces with Kevin Roche, John Dinkeloo and Associates to design this office building. Open since 2018, it already welcomes tenants, including several law firms and financial groups.

Important numbers to remember

$ 16 billion in construction

New York City’s $ 19 billion a year contribution to GDP

55,752 jobs created in West Manhattan

4.5 million m² (including parks, shops, offices, hotels, etc.)

15 Hudson Yards – From $ 3,900,000 for a 2-bedroom, up to $ 32,000,000 for a penthouse

Sources : Hudson Yards, NY Curbed, Archpaper, CNN, NY Times, Business Insider

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