We’ve reported a lot on Related/Oxford’s Hudson Yards mega-development and the neighboring Manhattan West, from Brookfield. There are also plenty of independent projects in the greater Hudson Yards District. One of those is the supertall office building dubbed 3 Hudson Boulevard and, despite reports of trouble, the developer, Moinian Group, assures YIMBY that it is still a go.
Last year, Moinian secured a tax exemption for the project from the New York City Industrial Development Agency, in which they agreed to make certain payments in place of property taxes. However, that agreement gave Moinian one year to secure financing for the estimated $2 billion tower. That year has expired.
They still haven’t secured financing, nor have they secured an anchor tenant. However, they are confident that that they will get all of their ducks in a row and re-apply for the benefit. In fact, foundation work began in May.
“We are excited to be moving forward with the foundation of 3 Hudson Boulevard, and are speaking with various firms about becoming the anchor tenant,” Moinian told YIMBY. “As is standard industry practice, upon that signing, we will finalize a financing package and structure to develop the remainder of the project. We will then file a new application for the IDA tax abatement program, which is available to all developers in the district.”
As for the building itself, its location is between Eleventh Avenue and Hudson Boulevard and between West 34th and West 35th streets. It is slated to rise 66 stories to 1,050 feet. It will encompass 1.8 million square feet.
The development team is currently looking to have one tenant occupy about one million square feet and two occupy about 500,000 square feet each.
FXFOWLE Architects is responsible for the design of the glassy edifice, which will feature a pair of five-story-tall LED screens.