Posted on 02/11/2021 4:16:09 PM PST by dynachrome
When Hudson Yards opened in 2019 as the largest private development in American history, it aspired to transform Manhattan’s Far West Side with a sleek spread of ultraluxury condominiums, office towers for powerhouse companies like Facebook, and a mall with coveted international brands and restaurants by celebrity chefs like José Andrés.
All of it surrounded a copper-colored sculpture that would be to New York what the Eiffel Tower is to Paris.
But the pandemic has ravaged New York City’s real estate market and its premier, $25 billion development, raising significant questions about the future of Hudson Yards.
Hundreds of condominiums remain unsold, and the mall is barren of customers. Its anchor tenant, Neiman Marcus, filed for bankruptcy and closed permanently, and at least four other stores, as well as several restaurants, have also gone out of business.
(Excerpt) Read more at nytimes.com ...
I think he’d consider this a successful operation against the bourgeoise.
My favorite part of the article is where the developer refuses to open their books to Chinese investors.
Transparency has become as quaint as the horse and buggy—the Chinese lie to us—we lie to China—both countries lie to their own citizens—and everybody lies to investors—what a wonderful world it is!
Mark Simone of WOR (NYC) talks about Hudson Yards on occasion. He says that it was doomed from the start even without the Wuhan Flu.
The customers have been driven out by confiscatory taxes, imposed by a spendthrift Mayor and wastrel, Grandmother killing Governor. Those that could have moved to Florida.
Fixed it.
ML/NJ
They have plenty of space to “house” the new “immigrants from the Southern Countries. How much will that cost the taxpayers of Gnu Yak to make sure the developers “regain their investments..”
Don’t forget the looting and rioting.
Freight into that place is really down. Understandably.....
My thoughts exactly. Could subdivide retail outlets to house hundreds of thousands. Would guarantee Dem control for years.
These creeps will sell it all to the Chinese pennies on the dollar and take a kickback, this is what these douchebags do
Just think of all the voters he saved from having to slave at work for some rich white guy, now they can spend more time with their family.
I don’t see how it would take more than a paragraph to describe how covid made Hudson Yards a ghost town. Pretty much covid made hudson yards a ghost town. You don’t even need more than one sentence.
Malls have been dead for 20 years.
Is Mark Cuban on their advisory board, or was this just a scam to ripoff China?
They wish it could have any attraction like the Eiffel Tower.
On a related note, the "Honeycomb" / "Vessel" or whatever they call it has become an attraction for suicides. Nothing like encouraging tourists to bring their kids to a site only to have them witness (or possibly get hit by) a jumper.
Only now are they looking at adding caging or netting when anyone with a brain and a little bit of research would have known open railings from deadly heights are targeted by those in New York City intending to commit suicide.
It will be sold for dimes on the dollar someday. Or pennies, idk.
Ha, Ha. Every phony NY politician was there spreading their BS. Of course, Upchuck made a star appearance telling how he had so much to do with extending the subway line on the far West Side. What a bunch of sad sacks. Now that Cuomo and Wilhelm have destroyed “the greatest city on Earth” we will see the Hudson Yards project crash into bankruptcy. No condo sales, no retail shoppers, no businesses, etc.
Businesses are moving out of NYC and NYS and not looking back. Now, even the fool pols in NYC want to tax stock and bond trades done on the Stock Exchange. With the flip of a switch, all of those trades can be made outside of NYC and NYS. If that tax passes, just watch as the financial center of “the greatest city in the World” heads off to Texas and other conservatively runs states. Wilhelm will be able to sleep even later in the mornings than he does now as he will be out of a job.
Gee, that’s too bad.
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