The billionaire behind Hudson Yards, the most expensive real-estate development in US history, says it’s ‘not a neighborhood for the rich’


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Hudson Yards, NYC’s new $25 billion neighborhood, is the most expensive real-estate development in US history.
The neighborhood’s luxury condos start at $4.3 million and cost upwards of $32 million.
When it’s finished, Hudson Yards will have a luxury mall with stores like Louis Vuitton and Dior, office spaces, public gardens, a performing arts space, and the highest outdoor observation deck in the Western Hemisphere.
It’s been called a “billionaires’ playground,” but Stephen Ross, the 78-year-old billionaire behind the project, told Forbes it’s “not a neighborhood for the rich.”

Hudson Yards is the most expensive real-estate development in US history. When it’s finished, the $25 billion development will include luxurious residential towers, office spaces, a school, a luxury mall with high-end boutiques and restaurants, a $200 million art installation, public gardens, a performing arts space, and the highest outdoor observation deck in the Western Hemisphere.

Condos start at $4.3 million and can cost upwards of $32 million.

Hudson Yards, with its glossy luxury boutiques and sky-high price tags, has faced criticism from some who see it as a neighborhood made only for the ultra-wealthy and earned nicknames from a “playground for billionaires” to “a mall for the wealthy.” Justin Davidson of New York Magazine called Hudson Yards “a billionaire’s fantasy city.”

But the billionaire behind the massive real-estate project disagrees with that characterization.

Hudson Yards is “not a neighborhood for the rich,” Stephen Ross, the chairman of Related Companies, the real estate firm that’s the developer of Hudson Yards, said in an interview with Forbes. “It’s not a separate enclave.”

Ross is worth more than $10 billion, according to Bloomberg, and Forbes estimates that his …read more

Source:: Business Insider

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