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Originally Posted by ssh
This and 343 Madison don't seem like "competitors" with 175 Park Ave to me, don't know why people keep repeating that. These towers are expected 2027-2028 and 175 Park is more like 2032.
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This wouldn't compete directly with 175 Park in either case. What it does do, however, along with 70 Hudson Yards, is remove 2 chunks of available space in upcoming new towers, which is what the top companies are looking for. We can throw 343 in there as well, though it's really a different type of tenant they're looking at. But 343 is moving along with leasing. The space crunch for the newly built office towers tightens. You have 175 Park, 15 Penn, 2 WTC, and 3 Hudson all looking for tenants. Those towers are more similar in terms of the types of tenants they are looking to get those projects started. Related has a massive office tower planned for Hudson Yards West, and there are the massive office towers planned for the Port Authority Bus Terminal rebuild, which is further down the line. But projects like this one are key to the city's office supply as well.