Vessel will reopen at Hudson Yards — with $10 fee, new security

When Related Companies unveiled Vessel, the sculptural staircase at the heart of the Hudson Yards megaproject, chairman Stephen Ross said he hoped it would become as iconic and beloved as the Rockefeller Center Christmas tree — or even the Eiffel Tower. But five years, three deaths and one pandemic later, the Thomas Heatherwick–designed attraction hasn’t lived up to those ambitions. It has been closed since the third suicide at the sculpture, but now Related will

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Landlords sue hospitality stalwart Furnished Quarters

Furnished Quarters, a short-term rental company that predates Airbnb by a decade, is facing legal challenges. Four landlords have sued the company this year for a total of $1.75 million, representing a mix of alleged rental arrears as well as accelerated damages and attorney fees, according to court filings. AFIAA filed a lawsuit against Furnished Quarters last week for more than $1 million dollars, claiming the company has not paid rent at its Chelsea headquarters

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Big year seen for hotel openings, despite few visitors

Tourists have yet to come back to New York City, but new hotels are projected to open en masse this year. Close to 80 hotels with more than 13,000 rooms — the most in many years — plan to welcome their first guests in New York City in 2021, according to the data firm STR, the Wall Street Journal reported. The pandemic has led to construction delays, forcing owners to push back their openings. But

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“More churros, less cops”: Vendors and Related face off

Restaurants inside the Hudson Yards mall have struggled through the pandemic, but now a food fight has erupted outside, pitting street vendors against developer Related Companies and the city. The Street Vendor Project, an advocacy group representing 2,000 vendors, claims Related has deployed security guards to harass vendors. It also said the developer enlisted the police, whose officers ticketed several sellers stationed near the Vessel sculpture. In addition, the organization says Related placed planters in

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Rob Gronkowski buys Hudson Yards home for $7M

The Bloomberg administration originally planned a stadium for the New York Jets at Hudson Yards. But instead of playing football there, Rob Gronkowski will be enjoying city views from his new apartment. The Super Bowl champion tight end scored a new pad at Related’s 35 Hudson Yards for $7 million, the New York Post reported. Though Gronkowski now plays for the Tampa Bay Buccaneers, the three-bedroom, three-and-a-half bathroom, 2,652-square-foot apartment will serve as his escape

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Stephen Ross, wife to divorce after 18 years

Related Companies chairman Stephen Ross and his wife Kara are going their separate ways. The billionaire developer and his spouse, a jewelry designer to celebrities including Michelle Obama and Oprah Winfrey, will split up after 18 years of marriage, according to Page Six. Ross has a net worth of about $7 billion, according to Forbes. The couple had a prenuptial agreement when they married in 2003, Page Six reported. A legal source told the publication

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Related’s 15 Hudson Yards lands $108M condo inventory loan

After a rough year for luxury condo sales in Manhattan, Related Companies and Oxford Properties Group sewed up a loan for unsold condos at 15 Hudson Yards earlier this week, records show. The $107.5 million in financing, from Wells Fargo, is secured by 102 units at the luxury tower — 99 residential, two commercial and one storage. The agreement was first reported by PincusCo. The 285-unit condo previously received an $850 million construction loan from

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MAC wants to sublease 4 NYC stores

MAC Cosmetics is the latest brand to try its hand on the retail subleasing market. The four stores that the cosmetics brand is looking to sublease are located at 165 Smith Street in Brooklyn, and at 210 East 86th Street, 853 Broadway and 689 Fifth Avenue in Manhattan. Cushman & Wakefield is handling marketing for all four locations. The subleases mean MAC has abandoned 10,000 square feet of space across the city. The lease terms

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Here’s what tenants pay at the redeveloped Hudson Commons

Hudson Commons, a former warehouse, underwent a transformation in recent years, just in time for the surge in tech tenant interest in Manhattan’s Far West Side. Cove Property Group and hedge fund the Baupost Group acquired the building at 441 Ninth Avenue for $330 million in 2016. The duo carried out an “adaptive reuse” plan that added 17 new office floors with outdoor terraces and higher windows. In 2018, indoor-fitness firm Peloton inked a lease

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