Eliot Spitzer and the Related Cos. plan to develop two sites on Manhattan’s far West Side into a 1.4 million-square-foot office and residential complex, according to a report in The Real Deal.
The pair of adjacent sites between West 35th and West 36th streets, which total nearly 57,000 square feet, lie between Hudson Boulevard and Tenth Avenue and are within the Special Hudson Yards District, which imposes unique zoning requirements on development.
Related and Spitzer, who own one site apiece, are asking the city to let them skirt some of the rules by splitting the project into two phases. The first phase would include 400 apartments atop 75,000 square feet of commercial space, with the second phase consisting of a commercial office building.
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Normally, the rules of the special district require office space to be built before residential, since the district is designed to emphasize commercial development. But Related Cos. argued that since there is a substantial amount of office space already under construction, they should be allowed to build apartments first.
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Eliot Spitzer and the Related Cos. plan to develop two sites on Manhattan’s far West Side into a 1.4 million-square-foot office and residential complex, according to a report in The Real Deal.
The pair of adjacent sites between West 35th and West 36th streets, which total nearly 57,000 square feet, lie between Hudson Boulevard and Tenth Avenue and are within the Special Hudson Yards District, which imposes unique zoning requirements on development.
Related and Spitzer, who own one site apiece, are asking the city to let them skirt some of the rules by splitting the project into two phases. The first phase would include 400 apartments atop 75,000 square feet of commercial space, with the second phase consisting of a commercial office building.
Normally, the rules of the special district require office space to be built before residential, since the district is designed to emphasize commercial development. But Related Cos. argued that since there is a substantial amount of office space already under construction, they should be allowed to build apartments first.
Bills passed to help tenants of New York’s ‘three-quarter homes’ (The New York Times)
Michael Shvo benched at 125 Greenwich: Sources (The Real Deal)
Plan to oust Malaysian investor from hotel consortium proposed (The Wall Street Journal)
Equity Residential: NYC rental market is weakening (The Real Deal)
Despite ebb and flow, Manhattan homes prices rise over last decade (Politico New York)
Apple to expand, extend Fifth Ave. lease (The Real Deal)
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