The largest private real estate development in U.S. history opened a few doors to retail tenants on May 31. At 52 stories high, 10 Hudson Yards is now home to 300 Coach employees, thanks to co-developers Related Companies and Oxford Properties Group.
Chairman of Related Companies Stephen M. Ross celebrated the opening alongside Coach CEO Victor Luis, executives from Oxford Properties Group and Hector Figueroa, president of 32BJ Service Employees International Union.
“Hudson Yards is the most ambitious development ever undertaken in the country and positions New York City for continued global leadership,” Ross said in a statement. “Coach has been our partner since the very beginning.”
The 895-foot office tower on the corner of 10th Avenue and 30th Street in Manhattan will feature over 4,000 rental and sale residences, 14-acres of public space, an Equinox hotel and a 250-seat public school.
Shoppers will be greeted by a custom lobby and 15-story atrium. Coach occupies a 700,000 square foot space with shoe enterprise, Stuart Weitzman, which it acquired last year. Both brands share a massive video wall to showcase their design-savvy products.
L’Oréal, SAP SE, Vaynermedia, Boston Consulting Group, Intersection and Sidewalk Labs are the remaining tenants set to move into 10 Hudson Yards.
A private cafeteria, design studio, large terrace and gathering space called the Heritage Room are just a few key highlights of the office/retail combo. Related Management handles operations for the first tower.
In keeping with the entire development’s forward-thinking process, the tower received LEED Platinum certification for its eco-friendly design. Tenants will benefit from the new No. 7 Subway station nearby and have direct access to shopping and dining at the first phase of Hudson Yards, which is due to open in 2019.
The entire 28-acre development will feature over 17 million square feet of mixed development atop a formal rail yard in the West Side of Manhattan. Both phases, titled Western Yard and Eastern Yard, will open in 2025.
The developers expect that upon completion, 125,000 people will work, visit or call Hudson Yards home each day. The development is expected to generate almost $500 million for NYC each year, while offering 55,000 new jobs in the West Side neighborhood.
Over 100 restaurants and stores will set up shop in Hudson Yards, including the first Neiman Marcus in New York City.
“Hudson Yards is destined to become the new heart of New York and it is well on its way to realizing that vision,” Ross said.