NEW YORK CITY— At Hudson Yards last night, as Liza Minnelli sang, “It's up to you, New York, New York!” the crowd enthusiastically responded with cheers. Charli XCX also performed. Hudson Yards, the largest private development in the history of the US and the largest development in the city since Rockefeller Center, opens to the public on Friday, March 15 at noon. On Thursday night, GlobeSt.com attended a preview where investors, developers, brokers and others in the real estate industry toured Manhattan's newest neighborhood.
Related Companies, led by chairman Stephen M. Ross, is the main developer, with Oxford Properties holding a major equity investment in the development. Mitsui Fudosan also owns about 92% of 55 Hudson Yards and 90% of 50 Hudson Yards.
The $25 billion development extends from Tenth to Twelfth avenues, and W. 30th to W. 35th streets, covering 28 acres, 14 of which are dedicated to public open space. The Eastern portion is what's opening on March 15. The Western portion which runs from Eleventh to Twelfth avenues has yet to be built. A current map indicates it will comprise seven residential buildings, a commercial building, a school, playground and park space.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
