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15 Hudson Yards - High Maintenance

Started by 300_mercer
over 8 years ago
Posts: 10538
Member since: Feb 2007
Did any one else notice almost $2.5 per month in Maintenance + Taxes? Most other full service new developments are $1.5. Is a lot of money going to maintaining the space available to general public?
Response by 30yrs_RE_20_in_REO
over 8 years ago
Posts: 9876
Member since: Mar 2009

Look at the list of amentiies(https://ny.curbed.com/2016/9/23/13030892/15-hudson-yards-amenities-renderings) they have to get paid for somehow.

Also, the number you see is the tax abated one: imagine what it's going up to when full taxes kick in?

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Response by 300_mercer
over 8 years ago
Posts: 10538
Member since: Feb 2007

Greenwich Lane has very nice facilities too. However, the maintenance is $1.25-$1.50 per sq ft. Is it possible that "affordable" units are being subsidized by the normal units?

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Response by 30yrs_RE_20_in_REO
over 8 years ago
Posts: 9876
Member since: Mar 2009

Are there affordable units at 15 Hudson Yards? I didn't think there were any there.
From what I'm looking at, the Greenwich Lane CC alone is about $1.80/sf and CC+RET at $3.80/sf

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Response by 300_mercer
over 8 years ago
Posts: 10538
Member since: Feb 2007
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Response by 300_mercer
over 8 years ago
Posts: 10538
Member since: Feb 2007

You are correct about Greenwich Lane maintenance. It is indeed $1.8/per sq ft. I miscalculated.

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Response by 30yrs_RE_20_in_REO
over 8 years ago
Posts: 9876
Member since: Mar 2009

Could very well be correct, it's just the first I've heard of it (but 106 units out of 285 +106 sounds like a lot at over 27%).
But you can also see they are saying over 30,000 sf of amenities, and not in the basement or low floors, the whole 50th and 51st floors (or so it seems) which has got to add something significant to the operating cost borne out in the CC.

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