AAdvanced Notice, Edition II – The New West Side Luxury Real Estate Market
Fall Greetings! We hope you had a wonderful summer. We would like to usher in the fall with the latest issue of our quarterly newsletter, AAdvanced Notice. This piece is designed to update you on all the new neighborhoods and projects under development across the city. Our fall edition focuses on the new “Mid-West Side,” including Hudson Yards and Waterline Square. These two new developments will bridge the gap between the Upper West Side and Chelsea, adding a tremendous number of new residential towers, commercial towers, parks, retail space, and more. Read on to learn about the city’s newest up-and-coming neighborhoods.
Sincerely,
Annie & Arlene
Hudson Yards
Credit: Related Companies / Hudson Yards
Hudson Yards is the largest private real estate development in the history of the United States, and the largest development in New York City since Rockefeller Center. The project, which is located between 10th and 12th Avenues from West 30th to West 34th Street, will include more than 18 million square feet of commercial and residential space, office towers, more than 100 shops, a major event hub, a school, a hotel, and 14 acres of public open space. Access to Hudson Yards has been made super convenient thanks to the completion of the 7 train extension, which now stops at 34th Street and 11th Avenue.
The first residential tower to be completed (opening next year) will be 15 Hudson Yards, topping out at 900 feet tall and offering 391 units (both for sale and rental). The tower will include world-class amenities such as private dining suites, an aquatics and fitness center, a wine-tasting room, and a massive wine vault where residents can purchase one of 45 private cellars that can hold 192 or 1,500 bottles. The tower is adjacent to the High Line park on 30th Street and 11th Avenue.
1 Hudson Yards will be a residential rental tower that will offer abundant amenities including a bowling alley, an 82-foot pool and spa, a basketball court, a state-of-the-art fitness center by Equinox, and a penthouse lounge and terrace.
In all, seven residential towers will ultimately be constructed in Hudson Yards, as well as a 750-seat school to accommodate resident families. In addition, an Equinox branded luxury hotel with more than 200 rooms is also slated for construction.
The first office tower in the mega-project, 10 Hudson Yards, was completed in May 2016, and stands at 895 feet. It is already home to many corporations, including Coach Inc., L’Oreal USA, SAP Software Solutions, and many more. However, the tallest building in the complex will be 30 Hudson Yards, which will reach 1,296 feet upon completion. It will be taller than the Empire State Building and will include the highest outdoor observation deck in the city. Committed tenants include leading media, business, and financial companies including HBO, CNN, Time Warner, Wells Fargo, among others.
The third commercial tower, 55 Hudson Yards, will be home to MarketAxess, Milbank and Boies, Schiller & Flexner, and Third Point. In addition, Mt. Sinai Medical Center will be opening a concierge medical facility in the tower, which is expected to provide medical services exclusively for those who live and work at Hudson Yards. A fourth commercial tower is also planned.
The Shops and Restaurants at Hudson Yards will be situated within a 1 million-square-foot retail center consisting of over 100 stores, including the city’s first Neiman Marcus. The shopping center will have easy access to/from the High Line and the nearby 7 subway station. The restaurant collection at Hudson Yards will be curated by renowned Chef Thomas Keller and will showcase 25 different dining options from some of the world’s best chefs, including ventures from culinary superstars such as Chefs José Andrés, David Chang, Michael Lomonaco, and Costas Spiliadis. Each kitchen will be unique, served in stylish dining rooms with spectacular views as a backdrop. Throughout Hudson Yards, smaller kitchens and street-level cafes will also offer all-day dining options.
Credit: Related Companies / Hudson Yards
One of the project’s major attractions, The Shed, will become the biggest new cultural destination in the city. A unique retractable outer shell will essentially allow this building to expand and contract in size based on the needs of each exhibition or event. When closed, The Shed will have a hall that can seat 1,200 people, and when left open, accommodate a 20,000-square-foot plaza for outdoor events. It will also include a 500-seat black box theater.
Credit: Related Companies / Hudson Yards
Another highlight of Hudson Yards will be The Vessel, an interactive structure that is intended to be climbed, explored, and experienced. Comprising 154 interconnecting flights of stairs, with almost 2,500 individual steps and 80 landings, The Vessel will offer a mile’s worth of pathway above a sprawling public garden. Once complete, this exciting new residential, shopping, dining, and entertainment hub at Hudson Yards will become a must-see for visitors and residents of the New York City, creating a brand-new neighborhood for everyone to explore and experience.
Waterline Square
Credit: GID Development Group / Waterline Square
Another new project currently under construction is GID Development’s Waterline Square, located on the Hudson River between 59th and 61st Street on nearly three acres of landscaped grounds. This development will include three residential towers, each designed by a different “starchitect,”: Richard Meier, Bill Pedersen, and Rafael Vinoly. Located on the southern tip of Riverside South, the tower’s residents will enjoy easy access to Time Warner Center and Lincoln Center.
Elevated walkways will connect the three towers so residents can enjoy the expansive 100,000 square feet of recreational space devoted to sports and leisure amenities, which will include an indoor tennis court, full basketball court, indoor soccer field, squash court, a 30-foot rock climbing wall, half-pipe skate park, golf simulator, 25-meter pool and hot tub, separate children’s pool, a fitness center, Pilates studio, boxing studio, yoga studio, massage treatment rooms, a bowling alley, screening room and performance space, art studio, music recording studio, a games lounge, a 4,600 square foot children’s indoor playroom and outdoor playground, a children’s party room, an indoor playroom for dogs, a dog training studio, and much more. The buildings will range between 34 and 38 stories. Rental apartments will constitute the lower floors, and condos will begin on the 20th floor of each building, all offering soaring river views. Construction on the first tower is expected to be completed by the end of this year, and sales are already underway.
Waterline Square will also be home to the first ever combined food hall, market, restaurant and bar experience created by Cipriani.
Both of us believe that these are very exciting new projects that will have a significant impact on the city’s real estate landscape, and should prove to be excellent investments. Should you or any of your family and friends be interested in learning more or visiting either of these properties, or other neighborhoods across the city, please contact us.