Posted Feb 26, 2015, 1:00 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,995
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http://commercialobserver.com/2015/0...n-u-s-history/
Stephen Winter: Related’s Secret Weapon For Leasing Hudson Yards
BY DANIELLE SCHLANGER
2/25/15
Quote:
Stephen Winter is unabashedly, unequivocally, obsessed with real estate.
As a vice president of commercial leasing at Related Companies, Mr. Winter has spent countless hours helping to fill all of the office space at Hudson Yards, the 17-million-square-foot, 28-acre mixed-used development emerging on the West Side of Manhattan. By his own count, he dines with potential clients and those in the industry eight times a week to fuel business. And on weekends, Mr. Winter scouts out buildings as “market intelligence” to better understand who the tenants are and what they need out of their building.
.....To date, Related has committed office tenants to over three million square feet of space into new construction at Hudson Yards.
“Three million square feet of commitments is unprecedented. You can ask anybody,” said Mr. Alexander. “That’s Stephen Ross and the whole Related team, but that’s unprecedented work, and Stephen is a part of that.”
The mega-project, pegged as the city’s new Rockefeller Center, has seen commendable progress in the past year. All properties on the Eastern Rail Yards will be under construction by the end of 2015.
“[Hudson Yards] has arrived. It’s not a dream,” said Mr. Winter. “It’s not some grand vision that may or may not happen. This is happening.”
He also emphasized that the sales pitch to lure companies west to Hudson Yards has become easier with time.
“When I first joined the project and was on the CB side, I used to constantly harass people ‘you got to see the project, you got to see the project,’” he recalled. “It was tough. Now, there are so many inbound calls.”
Then, Mr. Winter gave Commercial Observer the sales pitch on why Hudson Yards will be the new heart of New York. The number 7 train comes right to the development’s front door, and because it runs east to west, it picks up all the north to south lines along the way. Hudson Yards is three train stops from Grand Central and has the proximity to the Lincoln Tunnel and the West Side Highway (and, as he pointed out, the heliport, for a select few). Ferry access is nearby on West 39th Street and Penn Station (the busiest transit hub in the country!) is blocks away. The Upper East Side is out of vogue. Now everyone wants to live in Chelsea, Mr. Winter explained, making the High Line a means of transportation for people to get to work.
“Think about the work-life integration aspect of it now,” said Mr. Winter. “You do not have to leave Hudson Yards ever. You have tons of food and beverage [and] shopping. You have a health club, hotel, residences. You have everything you need, and it’s the best of everything.”
The pitch has clearly been effective. Though Mr. Winter and Related decline to comment on specific deals in the pipeline, Mr. Winter was optimistic that the 1.7 million-square-foot 10 Hudson Yards will be entirely leased this year. Based on current activity, he thinks the 2.6 million-square-foot 30 Hudson Yards may be completely leased as well.
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