RXR is currently undertaking the redevelopment of the historic Pier 57 in Hudson River Park on the West Side of Manhattan. The Pier occupies a highly visible location at the end of W 15th Street in Chelsea and at the edge of the Meatpacking district. This neighborhood boasts some of the city’s hottest new clubs, restaurants, and luxury retail, as well as public spaces such as the High Line and the recently opened Whitney Museum of American Art.
The Pier, originally constructed in 1952, is listed in the National Register of Historic Places, in large part because of the innovative engineering techniques that keep it afloat. Just below the water, three large concrete caissons support the main structure in lieu of traditional piles. Furthermore, these underwater containers serve as unique occupiable basement spaces, unlike at other piers.
Pier 57 is easily accessible by multiple modes of transit, including the A,C,E subway line at 8th Avenue, as well as by car, bus, bike, water taxi, and – of course – by foot along Hudson River Park. Given Pier 57’s convenient location in addition to its historical significance, RXR is seeking to create a vibrant and culturally rich experience, with a dynamic mix of office, retail, and public space, including a full wrap-around apron at water level and a landscaped rooftop park with breathtaking views of Manhattan’s West Side and the Hudson River. Pier 57 promises to be an ideal place to work, play, or relax with a drink while watching the sunset.
The RXR platform manages 68 commercial real estate properties and investments with an aggregate gross asset value of approximately $18.8 billion, comprising approximately 30.4 million square feet of commercial properties, inclusive of approximately 6.0 million square feet of buildings securing debt and preferred equity investments, a multi-family residential portfolio of approximately 2,600 units under operation or development, and control of development rights for an additional approximately 3,700 multi-family and for sale units in the New York Metropolitan area as of March 31, 2019. Gross asset value compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.