For potential residents and investors eager to see what Hudson Yards condo units will look like — and at what prices they’ll sell and rent — the wait continues. An email notice this week from Related, developers of the $20 billion mega complex on the West Side of Manhattan, promises information about the first of the 4,000 total residential units planned for the Hudson Yards complex is coming this fall.
“We expect to begin marketing the first extraordinary condominium residences, designed by Diller Scofidio + Renfro in collaboration with Rockwell Group, in fall 2016 for occupancy in 2018,’’ writes Related Senior Vice President Sherry Tobak, adding: “At this time, neither floor plans nor prices for the condominiums have been released. However, we have added your contact information to our VIP Inquiry List which will ensure you receive updates as more details become available.’’
Residential tower at 15 Hudson Yards will contain 160 condos and 325 rental apartments.
15 Hudson Yards will be the first residential tower to open at Hudson Yards. The 88-story glass-arced building has been designed by Diller Scofidio + Renfro in collaboration with Rockwell Group. It will be among the tallest towers in New York City. The 917-foot building went under construction in 2014 and is slated to contain 325 rental apartments and 160 condo units.
In previous press material, Related said that 15 Hudson Yards will offers five “distinct” residence types, from 1-bedroom layouts overlooking the High Line to duplex penthouses with panoramic city views, 26-foot ceilings and more than 5,000 square feet of living space. Pricing categories on the inquiry listing site for potential buyers are broken into increments, starting at the lowest category of under $2 million; then $2- to $4 million; $4- to $6 million; $6- to $9 million; $9- to $15 million; $15- to $20 million and over $20 million.
“All homes offer handsome wide-plank oak flooring, hand-selected materials and kitchen appliances by Miele; residents can select from two interior design palettes. With lavish master suites, expansive floor plans and the best features, the building ensures optimal city living,’’ Related has said, adding that residents will enjoy unmatched amenities: 24-hour concierge service; gyms and wellness spaces; a skytop entertaining suite with indoor entertainment lounges.
It will be very interesting to see what kind of sales activity takes place at 15 Hudson Yards once units start being marketed. The boost in real estate values in West Chelsea after the High Line has been in place for the past few years has been duly noted. Real estate experts expect the Hudson Yards development and the special zoning district surrounding the site will raise values. However, how much will new residents be willing to pay given that the Hudson Yards construction will not be complete until 2024? The decision to buy at opening prices will force buyers to weigh whether any inconvenience of construction is mitigated by the chance to buy into one of the most significant urban developments ever in NYC, or the U.S. for that matter.
Located at the northeast corner of 30th Street and 11th Avenue, Hudson Yards is reported to be the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center. The site will be completed in 2024 and will include more than 17 million square feet of commercial and residential space.
The mega complex will attract upwards of 125,000 a day to the 14-acre complex that will boast more than 100 shops, a collection of restaurants and a new center for artistic invention called The Shed. There will also be a new public school on the western phase of the Hudson Yards development and a 200-room Equinox® branded luxury hotel at 35 Hudson Yards.
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