CHELSEA — Luxury designer Coach is close to signing a lease on the Hudson Yards development, providing the cornerstone tenant needed to kickstart the massive construction project at Hudson Yards, Crain's New York reported.
Coach, which has been negotiating with Hudson Yards developer Related Cos. for several months, might sign on an office space of 600,000 square feet at the property near 10th and 12th avenues between 30th and 33rd streets as soon as next month, Crain's reports.
Currently, the 13-acre Hudson Yards space, owned by the MTA, is a storage yard. The largest undeveloped space in Manhattan received city approval at the end of 2009 for the Related Cos. to develop it as office towers, apartment buildings, and parks.
The strip by Hudson Yards' future development has recently drawn more foot traffic since the High Line's extension to 30th Street.
Some in the community believe that it's unlikely that the area will experience a full resurgence until the Hudson Yards area is developed.