COMMERCIAL
Manhattan’s First Spec Office Construction Project Since Pandemic Breaks Ground
Boston Real Estate Times | Feb 08, 2022
COMMERCIAL
Manhattan’s First Spec Office Construction Project Since Pandemic Breaks Ground
Boston Real Estate Times | Feb 08, 2022
Taking a leadership position in fostering a return to the office and as an act of continued confidence in New York City’s economic rebound, The Moinian Group announced that it is set to begin construction on The Hudson Arts Building, one of the first ground-up spec office developments to rise in the city since the onset of the pandemic.
The ten-story, 200,000-square-foot, state-of-the-art office building at 220 11th Avenue will rise in Chelsea, which is becoming one of the most dynamic NYC neighborhoods, with a cornucopia of new construction, retail and residential offerings, and cultural venues.
Market demand for boutique, high-end office space is so intense, in fact, that The Moinian Group is listing the penthouse floor—which includes ceiling heights up to 17 feet, multiple exclusive oversized terraces, and direct roofdeck access—at $200 per square foot, the highest listed asking price in Chelsea’s history.
Slated to rise up to 145 feet across the street from the Hudson River, with most of the views looking over it, the Hudson Arts Building will exceed the needs of the modern office tenant. The property will include open, column-free floor plates, and a dedicated first-class bicycle room and shower area.
The new project will also provide tenants with 15,250 square feet of outdoor space, including direct access to a 12,400-sf roof-terrace space—one of Manhattan’s largest newly built rooftop spaces—spanning the block from West 25th to West 26th Street. Tenants will be able to enjoy a lounge area, fitness and wellness area, dog park, and food and beverage options.