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Originally Posted by Zapatan
3 million SF? Holy cow, hope it happens. This could be very tall
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Originally Posted by MAC123
I hope this 3M sqft tower is even taller than the proposal for 418 11th Ave (the only one we've been shown)
Obviously it's likely to be more fat and squat, but I hope the hotel components and resort aspects mean the developers want it to be more tall to get higher prices.
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I think they want something that could make a statement. This is one of the few sites in the City where you could do that. Related wants to be the center of attention at Hudson Yards, and maybe the prospect of the Affirmation Tower topping 30 Hudson is enough for them to opt for something as tall.
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Related CEO Jeff Blau said the proposed $10 billion development plan for the Yards’ entire western half will be kick-started by the 3 million-square-foot, Wynn-branded “resort” tower.........
“It will be one of the most incredible tall buildings in New York City,” Blau gushed Friday.
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That's saying a lot for a skyscraper in New York. I wonder if they're retaining some of the architects who were already planning towers on the site. I can already hear the NIMBYs gearing up to fight this "tall" proposal, as if the other towers weren't going to be tall anyway.
As for the new office tower:
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Blau also said the new office tower would buck the current difficulties facing the city’s commercial real estate market.
Related’s four office skyscrapers on the site’s eastern half are nearly full, Blau said.
He noted that 30 Hudson Yards is fully sold to companies including KKR, while 10 and 55 Hudson Yards are 100% leased, and 50 Hudson Yards is already more than 90% spoken for even before it’s finished.
“We could start building another office tower right now,” Blau said. “We’re out of room” for tenants eager to pay $200 a square foot for space.
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Interestingly, this places Related's Hudson Yards in a similar position to the World Trade Center. Both complexes are basically full, with another office tower waiting in the wings. We know that these new office towers are filling up because of the lack of new office space. Who will build first? Meanwhile, towers like 15 Penn and 3 Hudson continue to stumble. Vornado's 350 Park found its groove, but the other 2 throw too many mixed signals.