Dan Doctoroff's technology companies are transferring to Hudson Yards, the very same neighborhood that was created thanks to his rezoning efforts.
Doctoroff is a former deputy mayor for economic development. He runs the Intersection and Sidewalk Labs, which will be leasing a 67,000-square-foot space at the 10 Hudson Yards office tower owned by Related Companies, according to The Real Deal.
"It's also somewhat of a homecoming to have Dan and his team at Hudson Yards, since this new neighborhood would not have been possible without his foresight and dedication," said Stephen Ross, Related Companies chairman. "After all, he even named the new neighborhood Hudson Yards."
The negotiations between Ross and Doctoroff came easy as the two are golf buddies.
Doctoroff was a key figure in New York City's bid for the 2012 Summer Olympic Games as he is an influential member of the Bloomberg administration. He defended the creation of a football stadium on the West Side, but the bid never happened. However, the proposal paved the way for the creation of Hudson Yards.
Sidewalk Labs addresses the city quality-of-life issues using the technology. Its parent company is Alphabet, the holding company for Google.
On the other hand, Intersection, which is currently based in Lower Manhattan, is a tech and media company acquired by Sidewalk Labs and other investors. The company has the same mission as Sidewalk.
According to the New York Times, Intersection will be joining Sidewalk at 10 Hudson Yards. The merger of the Control Group and Titan created the Intersection. These are the companies behind the creation of LinkNYC, the program that installs Wi-Fi kiosks on city sidewalks.
Sidewalk's new offices will be leased under a 10-year contract and scheduled to open in August. The financial terms of Sidewalk's deal was not disclosed. However, real estate brokers working in the area claimed that tenants at 10 Hudson Yards are paying around $70 to $80 per square foot.
