Related Companies and Oxford Properties Group announced that Intersection and Sidewalk Labs will locate their corporate headquarters at 10 Hudson Yards.
Intersection, the urban experience company formed in 2015 as the result of a merger between Control Group and Titan, and its lead investor, Sidewalk Labs, have leased over 67,000 s/f of office space joining Coach, Inc., The Boston Consulting Group, L’Oréal USA, SAP and VaynerMedia at the site’s first office building.
10 Hudson Yards is now nearly 100 percent leased and tenants will begin moving in this spring.
“Our focus is on using technology to improve life in cities,” said Sidewalk Labs CEO and Intersection chairman Dan Doctoroff, the former deputy mayor of New York City who was instrumental in having the west side re-zoned years before the Hudson yards became a reality. “As a leading data-driven, connected neighborhood, Hudson Yards is the perfect fit for us. 10 Hudson Yards is not only a technologically advanced home, but Hudson Yards more broadly will give us the opportunity to work with Related, visitors, residents and businesses there to explore how creative use of data and technology can make it an even greater place to work, visit and live. Moving here will also mark a milestone for me. The effort to turn this neighborhood into an engine of growth for New York City has been a personal mission for me for 20 years and it is very exciting to see that dream becoming a reality.”
Related founder and chairman Stephen Ross said he was thrilled to welcome the firms. “Hudson Yards is the first New York City neighborhood to offer a true 21st century experience to New York’s residents and employees, and is an ideal location for Intersection and Sidewalk Labs to design innovations that will make other cities more resilient and efficient.
“It’s also somewhat of a homecoming to have Dan and his team at Hudson Yards, since this new neighborhood would not have been possible without his foresight and dedication. After all, he even named the new neighborhood Hudson Yards. It is an honor to welcome him to his new home. This latest lease also represents a tremendous milestone as both 10 Hudson Yards and 30 Hudson Yards are now nearly fully spoken for.”
“With tenants moving in this year and the building almost fully leased, there has never been a more exciting time at 10 Hudson Yards,” said Blake Hutcheson, CEO of Oxford Properties Group. “Intersection and Sidewalk Labs are a superb fit for the location, which will give them a like-minded, technology-based and data-driven community to call home. We look forward to welcoming them to Hudson Yards – the most digitally connected community in the world.”
Intersection and Sidewalk Labs’ decision to open its office at Hudson Yards is a testament to the west side neighborhood’s position as the City’s most quantified and connected community and a hub for media and technology. Hudson Yards will offer a true interactive, data-driven environment for its tenants, making it a perfect location for technology-focused companies looking for a state-of-the art infrastructure. Communications onsite will be supported by a fiber loop providing fast, uninterrupted service. For greater resiliency, Hudson Yards also offers onsite-power generation capabilities and an onsite microgrid.
As the first quantified community in the United States, Hudson Yards will be a fully-instrumented urban neighborhood able to measure and analyze key physical and environmental attributes including: pedestrian and traffic flow; air quality; energy production and usage; sun and weather data; and health and activity levels of residents and employees; among others. This data will be used to continually improve the worker experience, while also making the neighborhood more efficient and improving operational efficiencies, productivity and quality-of-life. Not only does Hudson Yards offer its tenants a true interactive, data-driven environment, but the new neighborhood on Manhattan’s West Side will also be home to New York City’s smartest and most sophisticated park.
In the lease transaction, Intersection and Sidewalk Labs were represented by Michael R. Laginestra, Rocco Laginestra, Chris Corrinet and Chris Hogan of CBRE. Related and Oxford were represented by Robert Alexander of CBRE and Stephen Winter of Related.
The building, 10 Hudson Yards, was designed by Bill Pedersen of Kohn Pedersen Fox Associates. The building stands 895 feet tall and has 52 stories. Construction on the 1.8 million square foot tower began in December 2012 and the building was topped out in October 2015. Construction is also underway on 30 Hudson Yards and 55 Hudson Yards, the two additional office towers being developed on the Eastern Yard. 30 Hudson Yards is now fully committed with tenants Time Warner Inc., KKR and Wells Fargo Securities occupying space in the 2.6 million square foot tower; and leasing is ongoing at 55 Hudson Yards with litigation powerhouse Boies, Schiller & Flexner already committed to the 51-story tower. Foundation work on the site’s first residential building, 15 Hudson Yards, is nearing completion and sales are expected to begin later this year on the 960,000 square foot tower’s residences. Foundation work is also underway on the site’s 1.1 million square foot mixed-use tower, 35 Hudson Yards, which will house 137 exclusive for-sale residences, a 200-room Equinox® branded luxury hotel, a world-class 60,000 square foot Equinox® fitness club and spa, office space and ground floor retail space.
Hudson Yards is the largest private real estate development in the nation’s history. The site itself will include 17 million square feet of commercial and residential space, more than 100 shops and restaurants – including New York City’s first Neiman Marcus and new restaurants by famed chefs Thomas Keller, José Andrés and Costas Spiliadis – approximately 5,000 residences, a unique cultural space, 14-acres of public open space, a new 750-seat public school and a 200-room Equinox® branded luxury hotel – all offering unparalleled amenities for residents, employees and guests. The development of Hudson Yards will create more than 23,000 construction jobs, and when completed in 2024, more than 125 million people a year will either visit, work in or call Hudson Yards their home. For more information on Hudson Yards, please visit hudsonyardsnewyork.com.