NEW YORK | Hudson Yards Phase 2 | 1,376 - 1,189 - 1,180 FT | 80/80/74 FLOORS

[ChiND]

Originally Posted by DCReid

It seems clear to me that the buildings go on the deck over the rails, and therefore the deck has to be built first.

That’s what I assumed, but NY Guy knows this topic. I think he’s an engineer.

[NYguy]

Originally Posted by ChiND

That’s interesting. I thought that they had to wait for the western deck. I’m sure they’re pitching to Blackstone, though I hope that RXR gets them to anchor 175 Park.

It will happen simultaneously, same as it did with 30 Hudson.

[ChiND]

Originally Posted by NYguy

It will happen simultaneously, same as it did with 30 Hudson.

30 HY seems so long ago, not to mention, I did not work near there at the time. I don't recall how it played out. (I was in Sheboygen Elementary.)

Can they also build the apartments simultaneously too? It seems like all of the buildings are on the periphery for Phase II, and just the park is in the middle.

[NYguy]

Originally Posted by ChiND

30 HY seems so long ago, not to mention, I did not work near there at the time. I don't recall how it played out. (I was in Sheboygen Elementary.)

Can they also build the apartments simultaneously too? It seems like all of the buildings are on the periphery for Phase II, and just the park is in the middle.

Sites A and B will be built into the earth, as they aren’t over the rails, much like the Coach Tower and 15 Hudson.

[ChiND]

Thanks. I wonder how tall these apartment towers will be. 4,000 apartments in 3 towers that also contain a school seems like a lot.

[gflny03]

Passed 70HY and activity seems to be starting to prep site for construction now that Deloitte has signed as anchor.

If Related starts with phase II (including office tower) in the coming years, do ppl think BXP for 3 Hudson or other nearby empty properties would possibly build on spec to compete with new supply?

[montydawg]

Originally Posted by NYguy

Sites A and B will be built into the earth, as they aren’t over the rails, much like the Coach Tower and 15 Hudson.

Sites A and B are directly over the gateway tunnel, which has another year before it completes, so those sites may need to wait longer.

[NYguy]

Originally Posted by montydawg

Sites A and B are directly over the gateway tunnel, which has another year before it completes, so those sites may need to wait longer.

Not really. As in the first phase, the tunnel casing, buildings, and platform were all constructed simultaneously.

[NYguy]

https://therealdeal.com/new-york/202...-and-saved-2b/

Related’s $2B card trick
How Jeff Blau played city government and Wynn





By Erik Engquist
July 1, 2025

There’s an old saying in poker: If you don’t know who the fish is at the table, you’re the fish.
I can’t shake the feeling that Related Companies played the latest Hudson Yards rezoning brilliantly, at the expense of its former partner in the planned development, Wynn Resorts, and city officials as well.

Wynn had joined Related on the project because it initially included a casino, but that proved to be a no-go for the local City Council member, Erik Bottcher. Because the casino and rezoning needed Council approval, Bottcher had the ability to kill them on behalf of the entire Council, thanks to the chamber’s tradition of “member deference.”

Predictably, Bottcher nixed the casino, which he didn’t even have to do to Wynn executives’ faces because they weren’t in the room during negotiations. Only Related was.

Related, which builds residential and office buildings, not casinos, willingly sacrificed the gaming venue (which might not have won a state license anyway) to get approval for the rest of its project. That left Wynn with no role.

Wynn promptly blasted the city’s rezoning process as if surprised at how it works. Really? It’s not plausible that such a large, experienced company would have pursued a multi-billion-dollar project without fully understanding the Uniform Land Use Review Process.

[NYguy]

https://therealdeal.com/new-york/202...b-2026-budget/

Council signs off on Hudson Yards funding model


By Kathryn Brenzel
July 1, 2025

During Monday’s vote, the Council also passed a resolution paving the way for Related Companies to use surplus payments in lieu of taxes, or PILOTs, to pay for a $2 billion platform over the Western Rail Yard at Hudson Yards.

PILOTs similarly helped pay for the first phase of Hudson Yards. Under that arrangement, a nonprofit development entity created by the city issued bonds to pay for infrastructure upgrades and other upfront development costs. Instead of paying taxes, Related used portions of revenue from the commercial development to repay principal on the bonds. Surplus revenue went into the city’s general fund (in fiscal year 2025, the surplus payments totaled $394 million).

The resolution approved Monday specifies that Related’s ability to use this funding model will be contingent on it securing an anchor tenant for the office tower planned for the Western Yards — either with a signed lease or purchase agreement.

The resolution also requires a determination by the mayor that the project “promotes the public interest and maximizes, to the extent feasible, benefits to the public, including but not limited to, creating open spaces, developing affordable housing, and facilitating the construction of new public schools.”

[NYguy]

https://www.costar.com/article/87150...f-hudson-yards

New York OKs financial plan to help bring completion of Hudson Yards
Funds are contingent upon finding anchor tenant for proposed office building


By Andria Cheng
July 1, 2025

The PILOT financing is contingent upon the developers landing an anchor tenant for the proposed office tower.

Besides the platform infrastructure, the open space in the plan also will be financed through the PILOT method, which also was tapped for the first phase of Hudson Yards, the developers said. The project has remitted more than $500 million in excess revenue to New York City, with $2 billion more projected by 2028, they said.

City Comptroller Brad Lander in 2023 said Hudson Yards’ payments to the city were coming in about $200 million above projections annually, describing it at the time as “a bright spot in the commercial real estate sector.”

https://commercialobserver.com/2025/...yards-related/

New York City Council OKs Financing Plan for Related’s Hudson Yards Project





By Andrew Coen
July 1, 2025

“This is a historic moment for New York City, and this complex and transformational project would not be moving forward without the strong support and collaboration we’ve had from our city leaders on both sides of City Hall,” Jeff Blau, CEO of Related Companies, said in a statement.

Related’s Hudson Yards project will designate 625 of the 4,000 apartments as affordable housing.

The development will also include developing a 2.4 million-square-foot office tower, a hotel, a new public elementary school and 6.6 acres of public green space.

[DCReid]

"The PILOT financing is contingent upon the developers landing an anchor tenant for the proposed office tower."
So, does this statement mean that they will probably not start any construction until they sign an anchor office tenant?

[ChiND]

How big was the Foster office tower that was proposed for the south side of the site?

I wonder if they'll use the same design.

The development will also include developing a 2.4 million-square-foot office tower,

[NYguy]

Originally Posted by DCReid

"The PILOT financing is contingent upon the developers landing an anchor tenant for the proposed office tower."
So, does this statement mean that they will probably not start any construction until they sign an anchor office tenant?

The office tower is what will allow the PILOT financing, but they are also likely to seek state financing for the residential units, which would increase the affordable component to 25%, or about 1,000 of the 4,000 units. As far as the office tenant goes, Related both sells and rents office space. Half of their space in Hudson Yards has been office condos. But either way, they always seem to pull tenants out of thin air, and have been pushing to get a new office tower on the market. (Most of the space at the recently started 70 Hudson was snatched up)

Originally Posted by ChiND

How big was the Foster office tower that was proposed for the south side of the site?

I wonder if they'll use the same design.

Probably not. This tower would have slightly more space, up from a 2 msf tower.

But overall size and height will be determined by design. A look at some of the newer office towers that have risen in recent years....



1 Vanderbilt 1.3 msf (1.65 total)






270 Park Avenue 1.87 msf (2.5 total)






The Spiral 2.22 msf (2.6 total)






50 Hudson 2.26 msf (2.86 total)

[ChiND]

I hope that they build a more dramatic design than the Foster tower that was shown. It would be nice to have something very iconic here.

[NYguy]

Condensed PILOT agreement...

[BK1985]

Originally Posted by ChiND

I hope that they build a more dramatic design than the Foster tower that was shown. It would be nice to have something very iconic here.

I'm pretty sure all the buildings on the western yards were designed by SOM

[BK1985]

I wonder if the residential units will be increased given CoY passed. 4,000 is alot but the site can and should support more.

[NYguy]

Originally Posted by BK1985

I wonder if the residential units will be increased given CoY passed. 4,000 is alot but the site can and should support more.

The entire zsf allowed for the entire lot is set. Like the eastern yards, it will be built to an insanely low FAR (almost 10). That’s because people somehow think the city is better served by massive amount of open space. Never mind that Hudson River Park, the High Line, the open spaces in eastern yards, and Hudson Boulevard & Park are all right there. More should have been built here.

But the 4,000 units seem to have been focused on the 3 towers on the southern half. There is a planned smaller resi tower on the NW side of the site, west of the office tower and hotel.

[ChiND]

Originally Posted by BK1985

I'm pretty sure all the buildings on the western yards were designed by SOM

Thanks. I knew that the one residential was designed by SOM because the base looks like 175 Park, but I thought that the office tower was a Foster. Hopefully, SOM will design something of 175 Park's caliber.