Tuesday, November 12, 2013

Another Day, Another New Building near Hudson Yards

The Hudson Yards haven’t even been built yet, but they are already fueling a development boom on the Far West Side. But, while new development projects may stem from the overall construction boom in New York City, the only place in Manhattan -- outside the World Trade Center -- where you have enough space for major developments are on the West Side. Here are just a few of the new projects getting ready to break ground in the area next year:

Parking Lots to become 12-Story Building and a Hotel

Architect Ariel Aufgang sure is busy in the Hudson Yards area these days. He is currently at work on the design for a new hotel at 444 Tenth Avenue for an unknown developer. And now, he’s beginning a new 12-story, 187-unit building just a block away at 411 West 35th Street.

The hotel will have 65,000 square-feet and rise 17 floors, complete with a garden terrace and a first-floor restaurant.

Construction is estimated to be complete by December 2015 and is projected to cost $19.5 million. The site is currently a parking lot.

The 178,405-square-foot project at 411 West 35th Street will have 187 residences over twelve floors.

Residential apartments will take up 162,911-square-feet, plus 908-square-feet of community space and 14,580 square-feet for commercial use.

The 27,500 square foot corner development site, which consists of several adjacent tax parcels at 411-421 West 35th Street, is currently being used as a parking lot.

The lots are adjacent to Dyer Avenue, which will someday become a neighborhood park.


Developer Buying another Prime West Side Lot

The Related Cos. is snapping up a prime development site on the far West Side along what will be the area's new grand boulevard.

The developer will pay $75 million for a block-long site between West 35th and West 36th streets, further consolidating its control of the burgeoning Hudson Yards neighborhood.

The company is in contract to purchase 517 West 35th Street, a parcel of land that runs through the block to West 36th Street and will occupy the entire block along Hudson Park and Boulevard, a new street and a band of parkland that the city is spending millions of dollars to build between 10th and 11th Avenues.

The building site can accommodate about 235,000 square feet of development.

The site is among a handful that will become prime locations in the far West Side when the extension of the No. 7 subway line opens midway through next year. The site is catty-corner to the northern entrance of the new subway station, which will be on Hudson Boulevard between West 34th and West 35th streets.

After breaking ground on the West Side rail yards earlier this year, ushering the beginning of the largest new development project in Manhattan, Related has doubled down on the area, buying up land just north of the rail yards in the vicinity of the subway. In recent months, the company acquired a 1.7 million square-foot development site between West 33rd and West 34th Streets and between 11th Avenue and Hudson Boulevard from developer Extell Development.

The company also controls the super block directly east, on the other side of the boulevard. Related is believed to be negotiating to further increase its holding by buying a McDonalds restaurant on the corner of West 33rd Street and 10th Avenue.

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