NEW YORK CITY — The Moinian Group has unveiled plans for its 1.8 million-square-foot mixed-use tower, located on 11th Avenue between West 34th and West 35th streets, in the heart of New York City’s new West Side. The project is estimated to cost approximately $800 million, according to the New York Post.
In addition to roughly 1.5 million square feet of Class A office and 22,000 square feet of retail, 3 Hudson Boulevard may include another 350,000 square feet of Class A office space, or up to 14 floors of luxury residences with a separate sky lobby entrance. The building will also provide 360-degree views of the Hudson River, Highline, Hudson Park & Boulevard and the Empire State Building.
“For more than two decades The Moinian Group has believed that the new West Side would emerge as Manhattan’s most sought-after neighborhood,” says Joseph Moinian, founder of The Moinian Group. “Our new mixed-use building at 3 Hudson Boulevard will stand as the pinnacle of elegance along the new Hudson Boulevard & Park.”
Office rents would start at $85 a square foot and exceed $100 a square foot for the tower’s upper floors, which would put it in a class with many of the top office towers in the heart of midtown Manhattan, according to Bloomberg. Asking office rents in Midtown averaged approximately $70 a square foot in May, according to CBRE Group Inc.
Designed by Dan Kaplan of FXFOWLE, the roughly 1,000-foot high tower will turn slightly to catch the sunshine as well as views of the Hudson River and public spaces within Hudson Yards. The building also provides direct, easy access to the No. 7 Subway via the Metropolitan Transportation Authority’s new 34th Street subway station on the same block.
“3 Hudson Boulevard integrates the best practices of workplace and urban design to create a landmark tower distinguished by sustainability and grace,” says Dan Kaplan referring to the tower’s design. “It will be equally compelling as light-filled, healthy work environment as it will be a memorable addition to our city’s skyline.”
The tower features 47,000-square-foot floor plates on the podium level, 30,000 to 35,000-square-foot floor plates in the tower office floors and 11-foot-high ceilings with floor-to-ceiling windows that will provide natural light throughout the building.
Arthur Mirante, president of Avison Young’s Tristate Region, which is marketing the property, says that the Metropolitan Transportation Authority has already started building part of the foundation to accommodate the No. 7 Subway. “Not only is 3 Hudson Boulevard the best-positioned building along the new West Side, but we are not dependent upon a platform for construction,” he says. “Building on bedrock gives us greater speed to market, providing tenants more decision-making assurance for earlier occupancy to lease space.”
An anchor tenant at 3 Hudson Boulevard will also have a unique branding opportunity to join the ranks of some of New York City’s most premier office towers. The tenant’s logo can be displayed on the corner LED wall on all frontages of the base floors, with day and night visibility.
According to the Wall Street Journal, media giant Time Warner is considering moving its roughly 1 million-square-foot headquarters to 3 Hudson Boulevard. Time Warner, which is shopping for about 1.3 million square feet in the area, previously said the move to the building would help it consolidate employees from 15 buildings.
The developer expects to break ground on the project in 2014, and tenants will begin moving into the building in 2016. Tishman Construction is the lead construction partner on the project.
— Rachel Goff