NEW YORK CITY—When it comes to attracting large tenants, thetime-honored real estate maxim has been updated, CBRE EVP PaulMyers said at RealShare New York last week. “It used to belocation, location, location,” Myers told the more than 300industry professionals who assembled for this year's conference.“Now it's location, quality, quality.”

Specifically, Myers was commenting on Related Oxford's HudsonYards mega-project and what Paul Travis, managing partner atWashington Square Partners, called the project's “remarkable”ability to attract major tenants in short order. “The tenancy inManhattan has been shifting west,” said Myers. “Hudson Yards is acontinuation of that trend.”

The Hudson Yards zoning district in particular, and the Far WestSide in general, “is going to be the center of Manhattan 20 yearsfrom now,” predicted Robert Knakal, chairman of Massey KnakalRealty Services. He noted that current prices on developmentparcels in the district bear that out.