The pieces are falling into place — no easy feat for a 28-acre project with 18 million square feet of mixed-use space.
Hudson Yards, the new neighborhood rising on Manhattan’s West Side, on Tuesday said Cartier, Van Cleef & Arpels and Piaget will join The Shops and Restaurants at Hudson Yards, the urban shopping center that will be anchored by Neiman Marcus’ first New York City store and Watches of Switzerland’s inaugural U.S. showroom.
Slated to bow in March 2019 along with Vessel, Heatherwick Studio’s giant interactive outdoor design piece, and the Public Square and Gardens, The Shops’ 720,000 square feet of leasable space is 70 percent rented, according to developer Related Companies.
The three brands will be among the highest-priced retailers at The Shops. While Related had targeted other luxury retailers early on, there didn’t seem to be much traction. The addition of Cartier, Van Cleef & Arpels and Piaget could attract other high-end retailers.
A year ago, Himmel said, “The Cartiers, the Van Cleefs, the Pradas, the Hermèses of the world, luxury watch brands — those are the kind of tenants we are in dialogue with. I can’t tell you who exactly. Don’t forget, Neiman’s is going to deliver an enormous assortment of luxury.”
There will be something of a captive audience for luxury brands. Hudson Yards started leasing the luxury residences at One Hudson Yards, which includes one-bedroom apartments starting at $4,890; two-bedrooms starting at $7,945, and three-bedrooms, $11,895. The one four-bedroom apartment, priced at $24,000, has already been rented.
Other retailers at The Shops will include AG Jeans by Adriano Goldschmied, Aritzia, Athleta, Banana Republic, Coach, Lululemon, Stuart Weitzman and Tory Burch. Zara and H&M will open two-level stores, that are considered to be mini-anchors, according to Related. A robust beauty presentation will include The Body Shop, Kiehl’s, Jo Malone, MAC Cosmetics, NYX, Origins, Sephora and Urban Decay.
A turning point for the project was Related Companies, Oxford Properties Group and Mitsui Fudosan America Inc.’s announcement in September that the project had closed on $3.8 billion in financing for the flagship tower at 50 Hudson Yards on Manhattan’s West Side, representing the full capitalization for Hudson Yards’ first phase, which exceeds $18 billion, including the recapitalization of 10 Hudson Yards last year.
Webber Hudson, executive vice president of Related, said the retail and dining establishments will offer a range of products and price points. “The fact that we continue to attract luxury retailers, and are now 70 percent committed, shows a significant vote of confidence in our vision from the retail community.”
Related on Tuesday also announced that two restaurants created by London hospitality group, Rhubarb, will join its collection of two dozen eateries. A 5,800-square-foot concept restaurant will bow on The Shops’ fifth floor, while a 10,000-square-foot restaurant, bar and event space will open on the top of 30 Hudson Yards.
The restaurant lineup, selected by chef Thomas Keller and Kenneth A. Himmel, president and ceo of Related Urban, includes a 35,000-square-foot Spanish Market and concepts from Keller, and chefs José Andrés, David Chang, Michael Lomonaco and Costas Spiliadis.
“The center of gravity of New York City has shifted west and we have the unprecedented opportunity to create something truly unique at the centerpiece of this new neighborhood,” Himmel said. “The Shops and Restaurants at Hudson Yards will bring the best of diverse shopping and culinary worlds into this modern, architecturally significant environment.”