The South Tower of Hudson Yards forms a central part of a major regeneration effort in West Manhattan and will deliver 1.7 million sq ft of commercial space to stocks in the New York City area. L’Oreal’s commitment at the site relates to 402,000 sq ft of offices, while SAP has agreed to lease 115,000 sq ft on the top four floors of what will be an 895 feet tall building.
Architects at Kohn Pedersen Fox Associates designed the South Tower, which is now 80 per cent pre-let and will incorporate a total of some 15,000 sq ft of terracing space across three levels. Expectations are that the building will be completed and welcoming its first tenants at some point in 2015.
“The Hudson Yards development is at the core of a pioneering new neighborhood and L’Oreal USA is proud to be part of it,” said Frederic Roze, president and chief executive of L’Oreal USA.
“Hudson Yards showcases the soul and spirit of renewal that will inspire SAP employees, partners and customers to power a better run world and to improve people’s lives,” added SAP’s chief executive Bill McDermott.
The latest tenancy agreements reached in relation to the South Tower at Hudson Yards follow an earlier deal at the site that saw the high-end fashion brand Coach Inc secure 740,000 sq ft of offices as its global headquarters. The building is being developed jointly by Related Companies and Oxford Properties.
New York’s mayor Michael Bloomberg said in a statement: “World-class office space like the towers Related and Oxford are building will help keep New York City competitive in the global economy, and these commitments from leading corporations L’Oreal USA, SAP and Coach represent an important vote of confidence in our city’s future.”
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Editor’s Note: The South Tower is now also known as 10 Hudson Yards and was the first New York commercial office building to achieve LEED v2009 Platinum certification.
The building officially opened in May 2016 with Tapestry, Inc. as its anchor tenant. The multi-national luxury fashion holding company rented 737,774 square feet on floors 9 to 24 and utilize the 10 Hudson Yards as its global headquarters.
Other tenants at the South Tower include Boston Consulting Group, Guardian, Intercept Pharmaceuticals, Inc., Intersection, Sidewalk Labs and Gary Vaynerchuk’s VaynerMedia.