Real estate prices in New York City are high, new construction is plentiful and the massive Hudson Yards residential project on the westside of Manhattan is now officially underway promising even more availability of inventory for the discriminating buyer!
For those not living in the New York City area and who may be unfamiliar with this groundbreaking project, from the official Hudson Yards New York website:
‘Hudson Yards is the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center. It is anticipated that more than 24 million people will visit Hudson Yards every year. The site will ultimately include more than 17 million square feet of commercial and residential space, 5 state-of-the-art office towers, more than 100 shops, a collection of restaurants, approximately 5,000 residences, a unique cultural space, 14 acres of public open space, a 750-seat public school and a 175-room luxury hotel—all offering unparalleled amenities and easy access to transportation for residents, employees and guests.‘ (Source)
And now the construction phase of the project is officially underway with the ground having been broken at the Related Companies 70-story tower going-up at 15 Hudson Yards.
When completed in 2018 the building will be 910 feet tall and contain 385 homes combining rentals and condos.
The building will be located directly adjacent to the High Line, a 1.45-mile-long elevated park that was built on a section of the old New York Central Railroad spur called the West Side Line. For any resident of New York City or visitor the High Line, particularly on warm sunny days, is an excellent destination!
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Michael Haltman, President of Hallmark Abstract Service, New York.
HAS is a provider of title insurance in New York State for residential and commercial real estate transactions specializing in the areas of New York City, Long Island and Westchester.
For anyone either buying a property or refinancing, remember that although your attorney will likely recommend a title insurance provider, you always have the right to choose your own title company (click here to learn more)!
If you have any questions you can reach Michael by email at mhaltman@hallmarkabstractllc.com.
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