New York City, known for its innovation and extravagant real estate ventures, will now take the commercial real estate market towards a more ‘liquid’ direction: Pier 57. Also known as the SuperPier, the previously desolate part of New York is about to get a facelift, causing business giants like Google to brim with anticipation. The floating hub is opening new doors in the CRE market for large and small occupants alike, raising talk that it will be one of the most sought after locations in the city.
While still in the early stages of approval, blueprint and development is all but set. The design firm, Youngwoo & Associates, has created a plan that promises a new venue that is a cross between SoHo and Central Park, with a little bit of Lower Manhattan thrown in. While this sounds promising, resurrecting a declining pier is no easy task.
Developers have spent years perfecting their plans and are currently seeking city approval to begin construction. As new hurdles are discovered and overcome, the planning team continues to push for a 2018 opening date.
The SuperPier will be multi-leveled, featuring mixed office real estate and retail space with a large park covering the top. Between 200,000 and 300,000 square feet of space will be devoted to Google’s office use, while another 170,000 will be converted into famed celebrity culinary personality Anthony Bourdain’s food hall. There will be additional options for commercial real estate, including permanent spaces as well as converted shipping containers for retailers who need low-cost accommodations. The goal is to create options for tenants of all sizes to encourage a unique environment for shoppers to enjoy.
Atop the pier will sit nearly 2 acres of park space that will be able to hold 2,600 people at once. This portion of the development has been carefully planned to allow for the least amount of distraction to nearby residents while still accommodating the events the endeavor is hoping to host — Tribeca film screenings being one.
The central focus of the park is a restaurant pavilion encased in green glass that will match the facade of the building. With an underbelly of LED lights, the effect will reportedly give off a moon lit feel.
CRE tenants, retailers and business owners will have access to the abundant benefits the carefully designed park has to offer: over 13,000 square feet of green space; walls of lush hydrangea and clematis blooms; stadium-like seating; and a glass-walled restaurant will create the perfect environment for events of all sizes.
With cutting-edge detail and thoughtful development, the redesigned Pier 57 is set to become one of the next best commercial real estate event. As plans advance, there are likely to be more businesses climbing aboard this mixed-use giant enterprise.
