Hudson Yards office towers have a low vacancy rate compared to the rest of Manhattan, but its luxury housing and retail spaces are struggling.
Hudson Yards, the largest private real estate project in US history, faced a challenging start in 2019 but has since become a thriving office market in New York City. Despite initial setbacks due to the pandemic, the neighborhood has attracted top companies and commands high rents. Critics who once dismissed Hudson Yards as a soulless enclave for the wealthy have been won over by its success. The project’s office market has outperformed its luxury housing and retail components, highlighting the disparity in New York City’s real estate landscape.
Source: The NY Times
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