The company’s commitment to the first building at the Eastern Rail Yard portion of the wider Hudson Yards regeneration scheme has been welcomed by all those involved in the project, including developer Oxford Properties and the Mayor of New York Michael Bloomberg.
Coach, which is currently celebrating its 70th year of operating out of New York City, has agreed to occupy 600,000 sq ft of office space at the Hudson Yards site on the West Side of Manhattan.
The area is a historically important one for the city and is being regenerated in part as a new and significant site for office space in New York.
Grade A offices at the Eastern Rail Yard tower will become Coach’s international headquarters. The building will incorporate a total of 1.7 million sq ft of offices and its construction is scheduled to begin in mid-2012.
“Coach was founded as a maker of fine leather goods in a New York City loft and we are honoured to be the cornerstone of New York’s next great neighbourhood,” said the company’s chairman and chief executive Lew Frankfort.
“Today’s news will have a domino effect on the rest of the development,” said Mayor Bloomberg.
“Coach, a quintessential New York brand and major employer in the City, has been part of the City’s economy for 70 years, and now they are leading the way to a vibrant future for Hudson Yards,” he added.
Investment and development group Oxford Properties is working with the Related Companies business to finance and realise the expansive development projects drawn up for Hudson Yards.
Related already has office space schemes ongoing in a number of US cities including Chicago, Los Angeles, San Francisco and Boston. Oxford Properties meanwhile has an office space presence of its own in each of Toronto, London and New York.
Editor’s notes: As of July 2023, Coach Inc. (rebranded as Tapestry, Inc.) remained in occupation at 10 Hudson Yards. Its headquarters at the time measured 720,000 square feet.
The company also had a store at 20 Hudson Yards.
The Hudson Yards scheme is the largest private real estate development in the history of the United States and is home to the New York headquarters of Blackrock which committed to the scheme in 2016. The investment management and financial services company agreed to rent space at 50 Hudson Yards.