What to Expect of Hudson Yards Retail
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Hudson Yards is making its way toward a fall 2018 opening, and you can see a nearly finished platform from 30th to 33rd streets between 10th and 11th avenues. The retail portion, which is fully under construction, will be roughly 750k SF of gross leasable area over seven levels of 150k SF. Each floor will have a shopping district and a food and beverage district, Urban Related president and CEO Ken Himmel tells the New York Times. Retail rents will be less expensive than on Madison and Fifth, with the more expensive plaza level averaging $500/SF to $650/SF for retail. Restaurants will be even lower. So far the only retail tenant announced has been Neiman Marcus, but Urban Related's in talks with around 100 retailers. You can expect to see brands like Coach, Sephora, Chanel, Dior, Ferragamos, Louis Vuitton, H&M, Zara and Nike. As far as restaurants go, there will be seven destination restaurants taking up 75k SF, along with some fast-casual joints. Deals are already done for four restaurants, and, of course, Thomas Keller will have an American grill there, as previously announced. [NYT]