It has been remarkable for 75 acres of midtown Manhattan real estate to be opened up for development. Ground was broken in 2012.
It's a high-rise, high-tech development. High finance, too. Goldman is big in it.
The Hudson Yards development sits on top of the old Penn Central Railroad yards, now used by the Long Island RR as a staging site. When completed, it will be a heck of a new neighborhood. Not my style, but still...
Ideas about developing the railroad's air rights have been around but not of them came to pass. Even Trump had an option for the space, but he screwed it up partly by being annoying: How Trump Bungled the Deal of a Lifetime. The developer let a huge chunk of Manhattan slip from his grasp.
Interestingly, 35 Hudson Yards will be Equinox Tower, the first venture into the hotel business by the luxury gym chain.
When you take a walk on the High Line, at the northern end you can watch the construction of what is, in effect, a new city in itself. It's a sight to behold, a boom town. It will even have its own schools, parks, everything.
Will the 60,000 new apartments lower Manhattan rents? I'd guess no. And Brooklyn is a boom town too. However you may feel about NYC, a lot of people want to live there and I don't blame them because it's a high-energy place.
