Extell Announces New 56-Story Hudson Yards Skyscraper

By Mathew Katz on May 29, 2012 3:29pm 

Extell's One Hudson Yards will tower 56 floors over the street.
Extell's One Hudson Yards will tower 56 floors over the street.
View Full Caption
Extell Development Company

HELL'S KITCHEN — If you want a piece of Hudson Yards, now's the time to get it.

Owners of a massive new 56-story office tower set to rise on the north end of the new Hudson Yards district has begun looking for tenants.

One Hudson Yards, the new 1.7-million-square-foot tower will take up the entire block on the east side of 11th Avenue between West 33rd and 34th streets.

The new skyscraper will be steps from the entrance to the 7 Train extension, set for completion at the end of 2013.

Unlike other Hudson Yards developments, which will be build on a platform above the active Western Rail Yards, the new tower will be built on solid ground — a fact that developer Extell claims will allow it to go up cheaper and faster than some of the other office spaces in the new neighborhood.

"If you looked at a map of the Hudson Yards district, our site is dead center, smack in the middle," Extell President Gary Barnett said in a statement.

"In addition to great architecture and a superb location, we’re also offering the most competitive rents in the Hudson Yards district."

Each floor will offer roughly 32,000 square feet of Class A office space. A spokesman for the developer could not confirm rental prices for the building, but rumors have them hovering between $50 to $100 per square foot.

One Hudson Yards — which is technically not in Related's Hudson Yards development, but in the greater Hudson Yards area — was originally announced in 2009 as the World Product Center. That project was eventually put on hold.

Now that there's interest in reviving the site, Extell has recruited Jones Lang LaSalle to find tenants.

The Related Companies is set to begin construction on the first of many new towers in the area, a 51-story building at the corner of West 30th Street and 11th Avenue that will house luxury handbag designer Coach.

The neighborhood development project, which offers developers a variety of tax incentives, was stalled for years because of the economic crisis and a lack of interested tenants.

The new skyscraper will be steps from the new 7 Train extension.
The new skyscraper will be steps from the new 7 Train extension.
View Full Caption
Extell Development Company

Advertisement

Advertisement

Advertisement