„ The team is readying to begin a new 45-story, 1.1-million-square-foot office property called 70 Hudson Yards next year.**
If we go by the floor dimensions of the other standard Hudson Yards office towers (10 & 30), this tower would be ~760 feet tall.
No way 70HY and Commodore tower will be constructed on spec at the same time. That’s just too much risk for the CRE market these days, even with relatively low interest rates.
Surefire predictions can be risky. Sometimes buildings that begin construction during a downturn in the market are completed two or three years later when the market perks up. They can end up doing very well in the market. A firm with deep pockets and a bit higher risk tolerance than others ends up deepening their pockets a bit more.
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