NEW YORK | 70 Hudson Yards (514 West 36th St ) | 844 FT | 50 FLOORS

[ChiND]

Originally Posted by NYguy

It’s not as if this is the first company to move to the Hudson Yards.

Yes but being actually in the HY (e.g., overlooking the Vesel) is a lot nicer than a sidestreet, amidst empty lots like here.

[NYguy]

Originally Posted by ChiND

Yes but being actually in the HY (e.g., overlooking the Vesel) is a lot nicer than a sidestreet, amidst empty lots like here.

What do you think the Hudson Yards was when it first got developed? And still waits to be completely developed? Also, Tishman had no problem finding tenants to fill the Spiral, which is a neighbor here. That's how things work.



https://nypost.com/2025/04/30/business/d...aves-big-hole-to-fill-at-stuffy-30-rock/

Deloitte’s move to 70 Hudson Yards leaves big hole to fill at ‘stuffy’ 30 Rock





By Steve Cuozzo
April 30, 2025

Deloitte’s planned move from Rockefeller Center to 70 Hudson Yards is a triumph for developer Related Companies and its longtime financial partner Oxford. But Tishman Speyer, which owns about two-thirds of 30 Rock, must replace it at a time when companies increasingly prefer newly-minted, triple A-rated digs to buildings that are nearly a century old.

Deloitte has about 430,000 square feet at landmarked 30 Rock — as much as the other largest office tenant, Lazard — as well as 98,000 square feet at 1221 Sixth Avenue. A source said the largest currently available space at 30 Rock is 33,000 square feet on the 54th floor, where the asking rent is $112 per square foot. (About one-third of 30 Rock is owned separately by Comcast for its NBC studios).

One commercial real estate source snarked, “It’s one of the city’s best-loved buildings and Tishman Speyer has worked magic with its retail and public areas, but 90-year-old office space is still 90-year-old office space.”

But CBRE global brokerage chief Stephen B. Siegel, who isn’t involved at 30 Rock, predicted that Tishman Speyer wouldn’t have to struggle. “Time is on their side,” he said. “They have four years to find new tenants and they put a lot of effort into the offices as well as into the Top of the Rock and the restaurants.”

Deloitte will expand to 800,000 square feet at 70 Hudson Yards, a 717-foot-tall tower for which ground will be broken in June for completion in late 2028, The Wall Street Journal first reported.

Deloitte’s lease will leave Related with only around 350,000 square feet to fill at the new tower — which should be a snap in light of its success filling all the office buildings at its main Hudson Yards complex two blocks south.

One driver of Deloitte’s move, a source said, is to consolidate all its people, including from 1221 Sixth Ave., on contiguous floors — unlike at 30 Rock where its 14 floors take up three separate blocks.

Another factor in its decision is that Deloitte prizes sustainable design and health benefits for its employees — as at London’s environmentally advanced 1 New Street, where the firm moved a few years ago. The all-electric Hudson Yards tower, designed as the city’s first zero-carbon-emissions skyscraper, fits the bill.

Deloitte employees responded swiftly, but anonymously, to news of the relocation. One posted on Reddit, “It will be good to have a nicer office.” Another wrote that the move “can’t come soon enough. 30 Rock is iconic but makes for a pretty stuffy office.”

But another employee hated “getting dragged into Hudson Yards … there’s no food … what am I supposed to do for lunch? Eat a Chanel Bag” — clearly unaware that Hudson Yards has as many places to eat as Rockefeller Center.

[streetscaper]

I like this tower much more than 50 HY and the Spiral

[NYguy]

^ The tones are nicer, and it feels like something you would see going up on the eastside. Hopefully, the blue-glass box is gone for good.

[NYguy]

I had considered 343 Madison an overlooked building, but it occurred to me that 343 is only about 750,000 sf in terms of floor area, less than the 800,000 sf they are getting here.



https://www.consultingmag.com/2025/05/01/deloitte-signs-800000-sf-lease-at-70-hudson-yards/

.....The scarcity of new office construction has intensified the race among financial services, law firms and technology companies for top-tier properties. Hudson Yards, developed by Related Companies and Oxford Properties, has become a focal point for this demand. The sprawling development on Manhattan’s West Side already hosts major tenants like Wells Fargo, BlackRock and KKR, while offering a mix of commercial, residential, retail and public spaces.

Trophy office space availability in the area is limited, with just 9% available, compared to 12% across Manhattan, reflecting the neighborhood's desirability for top companies.

Roger Ferris + Partners and Gensler are designing 70 Hudson Yards. The building will feature a large event space, private dining areas, a media and podcast studio, and “red-eye” suites for employees and guests arriving from long flights. Deloitte will also have exclusive access to an 8,000-square-foot terrace, further enhancing the appeal of its new headquarters.

70 Hudson Yards is expected to be completed between 2027 and 2028.

[TKD]

Originally Posted by NYguy

I had considered 343 Madison an overlooked building, but it occurred to me that 343 is only about 750,000 sf in terms of floor area, less than the 800,000 sf they are getting here.

I'm relatively certain when deals are made they are not made in terms of zoning floor area and are instead made in gross floor area of which 343 Madison presumably has near 1 million gross sf of area.

[NYguy]

Originally Posted by TKD

I'm relatively certain when deals are made they are not made in terms of zoning floor area and are instead made in gross floor area of which 343 Madison presumably has near 1 million gross sf of area.

I know that. The poibt is they wouldn’t have been able to lease that much space. 343 will find its tenants.

[ChiND]

I wonder what’s going on with 415 Madison. That tower is small enough to be built on spec. According to Yimby, it will be less than 350,000 square feet.

https://newyorkyimby.com/2023/04/demolit...on-avenue-in-midtown-east-manhattan.html

[Zapatan]

I like it, also ground breaking in June, nice!

[ssh]

The bronze is amazing, I don't understand the hate for this filler in HY. Also, much more importantly, it will cover up that hideous advertisement.

COTERIE Luxury Senior Living

[rgarri4]

From my 3d model.

[NYguy]

Transfers aren’t complete, which is reflected in the diagram, but it looks like it will be near 800 ft…

[ChiND]

This shows a folded facade on Hudson Blvd. Do you think that this diagrams are outdated, or might we be getting that unique, folded facade?

[NYguy]

Originally Posted by ChiND

This shows a folded facade on Hudson Blvd. Do you think that this diagrams are outdated, or might we be getting that unique, folded facade?

Don’t know for sure, but work is supposed to begin relatively soon on this. Related can now focus on finding a big fish for the railyards office tower.

[ChiND]

Originally Posted by NYguy

Don’t know for sure, but work is supposed to begin relatively soon on this. Related can now focus on finding a big fish for the railyards office tower.

I agree. Once a tenant has been secured for 175 Park, I hope that Related finds one for the Western Yard.

[NYguy]

And just like that...(well, they did say June)


https://www.costar.com/article/138068896...ards-office-tower-begins-excavation-work

Related’s 70 Hudson Yards office tower begins excavation work
Project features consulting giant Deloitte as anchor tenant


By Andria Cheng
June 3, 2025

[NYguy]

https://www.globest.com/2025/06/11/deman...e-sets-new-york-apart-from-other-cities/

Demand for Prime Office Space Sets New York Apart from Other Cities
Trophy office availability in the U.S. has barely budged while New York’s rate has plummeted.

By Erika Morphy
June 11, 2025

A striking divide has emerged in the U.S. office leasing market, with New York City’s trophy office towers pulling far ahead of their counterparts across the country. As companies across the nation slowly return to the office, the appetite for prime space in Manhattan has reached a fever pitch, setting the city apart in a sector still grappling with the aftershocks of the pandemic.

According to Victor Rodriguez, senior director of analytics for CoStar, the numbers tell a dramatic story. Since early 2023, the availability rate in New York’s trophy buildings—defined as five-star, best-in-class office towers—has plummeted from 17% to just 10.7%. “That’s a major drop-off in a relatively short period of time,” Rodriguez told GlobeSt, emphasizing the magnitude of the shift. In stark contrast, trophy office availability in the rest of the U.S. has barely budged, declining from 23.9% to 23.6% over the same period, a change of just 30 basis points.

This divergence is being driven by a surge in demand unique to New York. Since the start of 2025 alone, nearly 60 new leases totaling almost two million square feet have been signed in the city’s trophy buildings. By comparison, all other U.S. markets combined have seen about nine million square feet leased in the same category.

“We’re seeing tons and tons of new leasing take place over the past 18 months or so,” Rodriguez noted, pointing to recent deals like Deloitte’s lease at 70 Hudson Yards—a building that is still under construction. “People are leasing space that’s not even built here… because so much has shrunk in a short period of time,” he explained. The sense of urgency is palpable, with tenants scrambling to secure prime locations before they disappear from the market.

Rodriguez attributes this momentum to several factors. First, New York’s enduring appeal as a business hub is underscored by recent census data showing the city’s population grew by 87,000 last year, with the broader metropolitan area adding over 100,000 residents. “People want to be in New York City,” he said. This population growth is mirrored by companies’ willingness to return to the office, often for three, four, or even five days a week—a trend not seen as strongly elsewhere in the country. The comfort of knowing that others are making similar commitments has made it easier for firms to sign long-term, high-value leases. “Sticker shock really isn’t there,” Rodriguez observed. “People are paying $100, $150, $200, $250-plus, in some cases, per square foot, to lease the space in some of these trophy buildings.” The issue is not price, but availability.

[ajbeaver25]

I haven't been that active on this thread so sorry if this has already been answered, but when is construction expected to finish on this one?

[NYguy]

Originally Posted by ajbeaver25

I haven't been that active on this thread so sorry if this has already been answered, but when is construction expected to finish on this one?

Excavation just began...

ground will be broken in June for completion in late 2028

[NYguy]

https://www.linkedin.com/posts/related_y...erties-activity-7338945192957239298-p3Mt

Yesterday, Related Companies and Oxford Properties Group, co-developers of Hudson Yards, broke ground on 70 Hudson Yards, the first ground-up, 1M+ SF office tower in New York City in more than five years.

70 Hudson Yards will be an exceptional addition to the Hudson Yards campus, drawing on best practices learned from the development of the neighborhood’s existing 9M+ SF of fully leased office space.