15 Hudson Yards, left, and 35 Hudson Yards, center, are the two residential buildings in Hudson Yards’ first, eastern phase. The office building 55 Hudson Yards is on the right. (Getty Images)
Last week’s official unveiling of the $25 billion Hudson Yards megaproject captured the city’s attention — it seemed New Yorkers couldn’t make it through the weekend without bringing up the opening ceremony, the new restaurants or the unusual Vessel staircase. The project’s residential real estate drew a lot of curiosity, too: According to the latest StreetEasy search data, buyer and renter interest in Hudson Yards jumped enormously during the week leading up to its opening.
Searches in Hudson Yards Skyrocket on Opening Day
From March 12 to March 15, the volume of StreetEasy searches in Hudson Yards shot up 257 percent compared to the same four days in the prior week (March 5 to March 8). Looking at single-day searches, Friday, March 15 — the day of the official opening of Hudson Yards — drew 630 percent more searches than the previous Friday, March 8.
Looking to Live in Hudson Yards? Expect Hefty Price Tags and Long Waits
Searchers will find that there is only one residential building in the Hudson Yards development currently open for occupancy — 15 Hudson Yards. As of last week’s opening, there were 15 active sales in the building, with an average price of $7,690,000 — nearly five times the median price of all homes listed in Manhattan ($1,625,000). The median price per square foot at 15 Hudson Yards is $3,323 — about $1,700 more than the median asking price per square foot for luxury homes (the top 20 percent by closing price) in Manhattan.
Prefer to rent your pad in one of the most buzzed-about parts of town? There were also six active rentals, all either 1 or 2 bedrooms, available at an average price of $9,132 a month.
The Hudson Yards project itself will include only one other residential building, 35 Hudson Yards. Condo sales for the building’s 143 units are set to begin in June, and the developers expect occupancy this year.
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Since opening day, searches in Hudson Yards have slowed, but they’re still higher than at the beginning of the month. Will the hype around this major new public space continue to draw interest in living along the Hudson River in Midtown West? Only time will tell.
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