Hudson Yards, NYC’s new $25 billion neighborhood, is the most expensive real-estate development in US history.
The neighborhood’s luxury condos start at $4.3 million and cost upwards of $32 million.
When it’s finished, Hudson Yards will have a luxury mall with stores like Louis Vuitton and Dior, office spaces, public gardens, a performing arts space, and the highest outdoor observation deck in the Western Hemisphere.
It’s been called a “billionaires’ playground,” but Stephen Ross, the 78-year-old billionaire behind the project, told Forbes it’s “not a neighborhood for the rich.”
Hudson Yards is the most expensive real-estate development in US history. When it’s finished, the $25 billion development will include luxurious residential towers, office spaces, a school, a luxury mall with high-end boutiques and restaurants, a $200 million art installation, public gardens, a performing arts space, and the highest outdoor observation deck in the Western Hemisphere.
Condos start at $4.3 million and can cost upwards of $32 million.
Hudson Yards, with its glossy luxury boutiques and sky-high price tags, has faced criticism from some who see it as a neighborhood made only for the ultra-wealthy and earned nicknames from a “playground for billionaires” to “a mall for the wealthy.” Justin Davidson of New York Magazine called Hudson Yards “a billionaire’s fantasy city.”
But the billionaire behind the massive real-estate project disagrees with that characterization.
Hudson Yards is “not a neighborhood for the rich,” Stephen Ross, the chairman of Related Companies, the real estate firm that’s the developer of Hudson Yards, said in an interview with Forbes. “It’s not a separate enclave.”
Ross is worth more than $10 billion, according to Bloomberg, and Forbes estimates that his Related Companies has developed $30 billion worth of properties worldwide. Ross is also the owner of the Miami Dolphins.
In the Forbes interview, Ross said Hudson Yards’ mall offers affordable options for eating and shopping, such as Shake Shack, H&M, and Zara.
The mall also includes the city’s only Neiman Marcus, along with restaurants like TAK Room from Thomas Keller, the chef behind the Michelin-starred Per Se.
Luxury lifestyles in Hudson Yards
Hudson Yards currently has two luxury condominium towers: 15 Hudson Yards and 35 Hudson Yards. At 15 Hudson Yards, residences start at $4.3 million and go up to $32 …read more
Source:: Business Insider