A few blocks south of the shiny high-rise office towers in Hudson Yards, Terminal Warehouse — a newly revitalized office tower — is about to come online.

The 1.3M SF property spans a full block between 11th Avenue and the Hudson River. Its developers, plus the brokers working on its lease-up process, are hopeful that the momentum in New York City’s office market will result in demand for trophy space reaching as far west as Chelsea.

But brokers and analysts say that other factors, like design and distance to public transit, may mean West Chelsea’s trophy office stock may wait awhile before it gets the tenants it’s after.

“It's a submarket that catered to a very specific kind of occupier — more tech, media, creative, advertising,” said Andrew Lim, director of New York research at JLL. “Those, unfortunately, happen to be sectors or industries that have been relatively quiet over the past two years.”

Read more about the challenges facing several redeveloped office buildings in Chelsea and how developers hope to beat the odds.

— Ciara Long and Sasha Jones

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