More than a third of Manhattan rentals (34%) and nearly a third of rentals in both Brooklyn and Queens (28%) cut their rents in the last quarter of 2017 compared to the quarter before — the highest levels on record according to the data kept by StreetEasy.

February 6, 2020 Comments Off on Related JV Will Bring Senior Living to Hudson Yards Views: 532 New York News, Top New York

Related JV Will Bring Senior Living to Hudson Yards

A joint venture between Related Companies and Atria Senior Living, in conjunction with Spitzer Enterprises and Welltower, closed on a strategic partnership at 451 Tenth Ave. at Hudson Yards. The Hudson Yards development will be the second location for the Related/Atria JV’s new series of upscale urban senior living communities, and the first on the East Coast.

Development of the project began in late 2019; completion is planned for 2022. Welltower is the long-term strategic capital partner for the Related/Atria JV in connection with both the 451 Tenth project and the JV’s previously announced 1001 Van Ness project in San Francisco. The Hudson Yards project will represent Welltower’s third purpose built senior living community in Manhattan.

Atria will manage the community. Currently the company provides senior living services to more than 4,000 New Yorkers across its 27 communities in the state.

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