The Moinian Group Breaks Ground on Chelsea Office Project
The 200,000-square-foot, state-of-the-art development represents one of Manhattan’s first ground-up spec office developments since the onset of the pandemic.
NEW YORK, NY – The Moinian Group has broken ground on a 200,000-square-foot, state-of-the-art office building in Manhattan’s Chelsea neighborhood. The project represents one of Manhattan’s first ground-up spec office developments since the onset of the pandemic.
The 10-story development, titled The Hudson Arts Building, will feature open, column-free floorplates, a lounge area, a fitness and wellness area, a dog park, a first-class bicycle room and shower area, food and beverage options, and 15,250 square feet of outdoor space including a 12,400-square-foot rooftop terrace.
Located at 220 11th Ave., the project will span one block from W. 25th St. to W. 26th St. and will offer views of the Hudson River.
The boutique office property’s penthouse floor will feature 17-foot ceiling heights, oversized terraces and direct roofdeck access, and it will be listed at $200 per-square-foot, which represents the highest listed asking price in Chelsea’s history.
Designed by international design practice Studios Architecture, the project will also feature ground-floor and below-grade retail space.
Planning for build-out in Q1 2024, the Moinian Group has developed a private, virtual tour to showcase the space for leasing purposes. JLL’s New York region president Peter Riguardi and colleagues Cynthia Wasserberger, Frank Doyle and Michael Pallas will lead the project’s leasing efforts alongside the Moinian Group’s head of commercial leasing Ted Koltis.
Wasserberger suggests that office tenants at the top of the market have “an affinity for boutique properties where they can have more control over the design, layout, and management of their space. For tenants looking to reap the benefits of new construction in an authentic and interesting neighborhood, the Hudson Arts Building is an ideal choice.”
Regarding the need for new quality, class A office space, Koltis says, “Developers will be required to produce new spaces and experiences that exceed what has come before in order to meet the needs and demands of those tenants who have and will continue to seek out the highest quality space in Manhattan to attract and retain talent. Through a combination of design, location and amenities, The Hudson Arts Building is our commitment to setting a new bar for excellence.”
“New York is the greatest city in the world, and with companies reinvesting into their people and built environments, we are going to deliver premiere, trophy-quality office space in a dynamic neighborhood tenants will love, at a level not typically achieved in Midtown South or West Chelsea,” says Mitchell Moinian, principal of the Moinian Group.
The project adds to the Moinian Group’s existing presence on 11th Ave. in West Chelsea, where the firm owns more than four million square feet of real estate. The firm’s 11th Avenue properties include The Oskar at 572 11th Ave., Sky at 605 W. 42nd St., which is the Manhattan’s largest luxury residential property, and 3 Hudson Blvd., a 1.9-million-square-foot office tower set to rise in the Hudson Yards neighborhood.