Posted Jan 16, 2013, 1:25 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,914
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http://www.nytimes.com/2013/01/16/re...=nyregion&_r=0
Already Wooing Tenants in Hudson Yards
By PETER SLATIN
January 15, 2013
Quote:
Ms. Tighe noted that although the financial services sector was showing no signs of near-term expansion, “if you look at other industries, whether media, fashion or advertising, an interesting thing is happening — they are looking to occupy space with greater density,” in other words, with more employees per square foot. “That puts pressure on everything from the classic elevator equation to the number of toilets and the amount of air-conditioning,” she said, and as a consequence, “new construction becomes very compelling.”
Financial services corporations like Credit Suisse and Citicorp are among those known to be considering new locations, but companies in the industries that Ms. Tighe highlighted are also on the prowl, including CBS, Sony, Polo Ralph Lauren and News Corporation.
Along with Related’s project, three other large parcels are controlled by three separate developers. The largest is a superblock owned by Brookfield Office Properties, directly east of Related’s, that extends from Ninth to 10th Avenues and from 31st to 33rd Streets. Brookfield calls this site Manhattan West and held a groundbreaking there Tuesday. At the event, Brookfield announced construction of its own platform over rail lines and an 850-unit apartment building on the western portion of the site that is on bedrock, as well as $340 million in construction financing for the platform, a crucial step.
Along with the apartments and some retail, Manhattan West will have four million square feet of office space and a 1.5-acre public park. “We are the gateway site to Hudson Yards, with the greatest linkage to transportation,” said Dennis Friedrich, chief executive of Brookfield.
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