Coach opens at Hudson Yards

On Tuesday morning, Stephen M. Ross, founder and chairman of Related Companies, had plenty of reason to celebrate. The 52-story development at Hudson Yards had finally opened, welcoming Coach as a tenant.

“Sometimes the vision can end up being different from the reality, but this is truly great,” 76-year-old Ross told WWD. “Today’s opening shows you what’s to come at Hudson Yards. You can see the quality of this building, the attention to detail. It’s very gratifying. It’s about integrating into the neighborhood, yet it also feels like something new and different.”

In 2012, the 1.8 million-square-foot development at 10 Hudson Yards broke ground, making history as the first building to open in Hudson Yards. The property is being codeveloped by Related and Oxford Property Groups. It's considered the nation's largest private development, extending from 30th to 33rd streets in Manhattan, between 10th and 12th avenues, and from 33rd to 34th streets between 10th and 11th avenues.

Hudson Yards gets is first tenant with Coach

Other tenants slated to move into 10 Hudson Yards include L'Oreal USA, SAP, The Boston Consulting Group, Vayner Media, Intersection, and Sidewalk Labs. Coach, however, was the first tenant to sign on to the Kohn Pedersen Fox-designed building which spurred leasing efforts and funding.

Prior to the opening of their Hudson Yard's offices, Coach's offices were dispersed at three different locations between West 33rd and West 34th Streets. The company's goal was to keep their offices in the same vicinity it has called home for years.

The relocation of Coach coincides with the brand's 75th anniversary.

Things also seem to be finally turning around for the company. They posted their first quarterly growth in three years.

Coach's new office spaces are about the equivalent to a university campus building in stature. There is a 15-story atrium, an open-space environment, double-height conference rooms, a design and studio workshop, a terrace overlooking the Hudson River, a cafeteria, and a Heritage room that can accommodate up to 250 people. The lobby has a huge showcase of bags.

Coach only owns about 50 percent of the space though, and is considering an eventual lease back of the site.

In fall 2018, The Shops and Restaurants at Hudson Yards are expected to open with tenants including Neiman Marcus, Zara, Tory Burch, and Stuart Weitzman. According to Ross, other letters of intent have been signed, but he declined to name any specific retailers who will also be coming to Hudson Yards.

The Hudson Yards development is a two phase project. The first involves the development of the Eastern Rail Yard section, which incorporates 10 Hudson Yards, 30 Hudson Yards, the mall, an outdoor sculpture space, and The Culture Shed. Phase two involves the Western Rail Yard, which will be mostly residential buildings and a planned Equinox hotel.

The Culture Shed is viewed as the potential new home of New York Fashion Week once the projected is completed. It's something former mayor Michael Bloomberg had hoped for when plans for the project were first announced in 2011.

photo:hudsonyardsnewyork.com