Related Companies

Related Buys Far West Side McDonald’s Site, Last Parcel Needed to Complete Hudson Yards

Google Street View of the McDonald’s site with other Hudson Yards construction in the background

October 6, 2015

Related Buys Far West Side McDonald’s Site, Last Parcel Needed to Complete Hudson Yards

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Crain's reports that the Related Companies has bought the site of a McDonald's at 34th Street and 10th Avenue for an undisclosed sum, the final parcel needed to build 50 Hudson Yards. The fast food chain has owned the property for decades, but at the end of last month, the company notified the state that it would lay off all of the location's 65 employees by the end of 2015. Though no formal designs have been released for the corner lot, the developer's website tentatively envisions a 2,300,000-square-foot commercial tower that would reach 62 stories and higher than 1,000 feet.
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Zaha Hadid Launches Sales at Her High Line Condos, Talks the Evolution of NY Architecture
October 2, 2015

Zaha Hadid Launches Sales at Her High Line Condos, Talks the Evolution of NY Architecture

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Related Companies has officially launched sales for their highly-anticipated upcoming condominium, 520 West 28th Street. Designed by Pritzker Prize-winning architect and artist Zaha Hadid, the eleven-story building will be Hadid's first ground-up structure in New York and will offer 39 distinctive two- to five-bedroom homes priced from $4,950,000 to $50 million for the largest penthouse. The under construction building, now five-stories up, rises alongside the High Line elevated park from an L-shaped parcel between West 27th and 28th Streets in the center of West Chelsea's art gallery district. Related Companies purchased the site for $65 million in 2012 and soon after commissioned the Iraqi-British designer, who beat out the likes of fellow Brit, Norman Foster. Yesterday, at the development's launch, Hadid said she has "always been fascinated by the High Line and its possibilities for the city. "
More from the event here
Construction Update: Related Companies’ Rental Tower at Hudson Yards’ Front Door Begins to Rise
September 10, 2015

Construction Update: Related Companies’ Rental Tower at Hudson Yards’ Front Door Begins to Rise

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Related Companies' new mixed-use rental tower at the front door of Hudson Yards is forging ahead. Located at 530 West 30th Street, just south of the towering Coach Tower (10 Hudson Yards) and west of the recently finished Abington House (also developed by Related), the 28-story building will bring 174 new rental homes to the rapidly evolving neighborhood. 530 West 30th shares its lot with 529 West 29th Street, an all-affordable, 126-unit building Related opened last year with apartments set aside for artists, seniors, and local residents of Community District 4.
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City Will Have to Pay Another $368M for Hudson Yards
July 23, 2015

City Will Have to Pay Another $368M for Hudson Yards

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In November, 2014, we reported that the 26-acre Hudson Yards mega-development had cost the city nearly $650 million in subsidies, coming straight out of the pockets of taxpayers. We also noted that it wasn't going to stop there; a review by the city’s Independent Budget Office said even more would be needed through 2019 to complete the “next great commercial district.” And now the new figures are in. According to DNAinfo, the city will shell out an additional $368 million through 2019, bringing their total payout for Hudson Yards to more than $947 million.
Find out more here
Join Global Architecture, Urban Planning and Real Estate Pundits at the NYT’s Cities for Tomorrow Conference
June 23, 2015

Join Global Architecture, Urban Planning and Real Estate Pundits at the NYT’s Cities for Tomorrow Conference

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The New York Times Cities For Tomorrow conference is back again and better than ever, this time promising to deliver even more riveting talks centered on the forward-thinking innovations that are rapidly reshaping the world as we know it. This year, join Times architecture critic Michael Kimmelman as he leads the two-day event, running July […]

Forbes Tallies the World’s Richest Real Estate Tycoons
April 22, 2015

Forbes Tallies the World’s Richest Real Estate Tycoons

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Forbes recently released their annual list ranking the world’s billionaires for 2015. The universe’s wealthiest human is still Bill (Gates, that is), with a fortune worth $79.2 billion at last count. In the overall under-40 crowd, Marc Zuckerberg topped the list with $35.1 billion, his fortune far outstripping the rest of the youngsters on the list. A look at the world’s top real estate billionaires—the list can be sorted by industry among other factors—gives us a peek at some interesting facts and figures about the world’s top property tycoons.
Find out which real estate big-wigs are swimming in billions here
Rent-Stabilized Tenant Gets Evicted for Listing His Apartment on Airbnb in a Landmark Decision

Inside the apartment. Image via Airbnb

February 20, 2015

Rent-Stabilized Tenant Gets Evicted for Listing His Apartment on Airbnb in a Landmark Decision

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If you were questioning how truly serious the city is about its beef against Airbnb, look no further than this landmark ruling to evict a rent-stabilized tenant from his ultra-luxe 450 West 42nd Street building. The Post reports that Henry Ikezi was just given the boot by a Manhattan Housing Court judge for posting his 46th-floor Hell's Kitchen apartment on the site for $649 per night, about triple what he was paying at $6,670 per month. The home's market value is upwards of $9,000.
More on the landmark case here
A Pierre One-Bedroom Going for $120,000/Month; Rem Koolhaas Design Coming to the High Line
February 17, 2015

A Pierre One-Bedroom Going for $120,000/Month; Rem Koolhaas Design Coming to the High Line

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Although someone’s rented out the Pierre’s $500,000/month presidential suite, there’s still a one-bedroom available for $120,000/month. [NYDN] Rem Koolhaas will design Related’s new building along the High Line. [Architizer] The Branson at Fifth is the city’s worst ‘illegal’ hotel. [Crain’s] Rafael Vinoly is designing a townhouse on East 64th Street. [Curbed] Teamsters have put a […]

Real Estate Wire: Robert A.M. Stern’s “Scaled-Down” Luxury; Controversial Astoria Cove Project Approved
September 29, 2014

Real Estate Wire: Robert A.M. Stern’s “Scaled-Down” Luxury; Controversial Astoria Cove Project Approved

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Robert A.M. Stern, the architect behind 15 Central Park West, is bringing a new 17-story tower to 20 East End Avenue. The building—said to be less pricey than Stern’s others—will have 43 units starting at $4.5M. Penthouses will go for $20M. [NYT] New renderings and listings appear for One John Street. [Brownstoner] East New York’s rapidly rising […]

<b>The Golden Age of Related: A Closer Look at New York’s Leading Real Estate Developer</b>
September 11, 2014

The Golden Age of Related: A Closer Look at New York’s Leading Real Estate Developer

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Founded in 1972 by former tax attorney Stephen Ross, the Related Companies got its start securing funding for affordable housing upstate. Before long, the company moved to New York City, bringing affordable units to Battery Park City and the Upper East Side. When the boom years of the 1990's hit, Related got involved with luxury development, beginning with the renovation and conversion of an historic Beaux Arts building at Union Square into the W Hotel and then the development of 1 Union Square South. Today, the Related name is attached to some of today's biggest and most high profile projects, including One Madison and Hudson Yards. And with more than $15 billion in assets, the company is New York's leading real estate developer.
We take a closer look at Related's high-end portfolio
Real Estate Wire: The Helmsley Building Could Hit the Market for $1.5B; Carnegie Park Going Co-Op
September 3, 2014

Real Estate Wire: The Helmsley Building Could Hit the Market for $1.5B; Carnegie Park Going Co-Op

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The Commercial Observer interviews Gary Barnett of Extell. The developer discusses everything from his aggressive development stance to the “poor door” controversy that’s gotten everyone all riled up. [CO] An epic tale of murder at 31 Bond Street—the site of new condos coming to the NoHo market. [NYT] The “Gossip Girl Penthouse” at 1136 Fifth Avenue sold […]

One Madison: A Modern Marvel on Madison Square
August 28, 2014

One Madison: A Modern Marvel on Madison Square

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When it comes to New York City real estate, many people liken fluctuating prices to the chicken-or-egg phenomenon: does a building transform a neighborhood or does construction follow the most up-and-coming areas? In the case of One Madison, the super sleek 60-story, high-rise tower that is home to a media mogul, a supermodel, and star quarterback, gentrification had already taken hold in the larger NoMad area when construction began on the building in 2006.
Take a look at the towering building and how it became one of the city's top-sellers
Do Not Disturb! Peeking Into the NYC Condo Hotel Market
July 24, 2014

Do Not Disturb! Peeking Into the NYC Condo Hotel Market

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Who wouldn't want to be able to order a juicy burger in the middle of the night and have it delivered in mere minutes? Or never have to worry about making the bed or folding sheets ever again (does anyone know how to fold the fitted sheet properly)? How about having an on-call masseuse? This is the life of living in a condo hotel. Today, the city is teeming with these luxurious hybrids. The Residences at the Ritz Carlton in Battery Park City are home to the city's most expensive listing at $118 million. The landmark Plaza Hotel was partially converted to 181 residences in 2008. And let's not forget One57, the 90-story, 52-condo tower that will be the first five-star luxury hotel to rise in New York City in the last ten years. But do the vacation-worthy amenities at these buildings make them dominant in the real estate market?
We take a closer look
A Unique $3.2 Million Tribeca Loft to Bring Out Your Inner Artist
May 29, 2014

A Unique $3.2 Million Tribeca Loft to Bring Out Your Inner Artist

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On the road again… I can’t wait to get on the road again… Yes, one glance at 466 Washington Street #3W is going to have you feeling like you just got off a bumpy bus ride in Tijuana and stopped in for a beer at a local tavern. That’s part of the charm of this 3,500-square-foot, one-of-a-kind loft. It’s perfectly suited for the artist who was “born to run” or just born to work, embracing a live/work atmosphere. The apartment’s trendy personality, combined with its original hand sewn beams and exposed brick walls produces a blend of old and new, making it a perfect haven for creative inspiration.
Check out more photos of this unique loft here
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