Vornado Realty Trust, Hudson Pacific Properties, and Blackstone have joined forces with the City of New York and New York City Economic Development Corp. on the creation of a public-private partnership that will develop Sunset Pier 94 Studios. The $350 million film and production facility will take shape on Pier 94, the leasehold for which Vornado has contributed to the public-private venture, and it will hold the distinction of being Manhattan’s first purpose-built studio campus.
Sunset Pier 94 will be a 266,000-square-foot, cutting-edge facility with six soundstages and 145,000 square feet of production support offerings and office space. The project will also provide a few amenities rarely seen at your typical studio, including a 1,850-square-foot community amenity space, 23,000 square feet of open space along the waterfront, and, perhaps of greater importance to Manhattanites, new public restrooms to accommodate visitors to neighboring Hudson River Park.
Despite the writer’s strike, demand for U.S. studio space is surging due to the public’s increasing appetite for original content. Both traditional broadcasters and streaming platforms are striving to meet this demand. The Tri-State area is becoming a hotspot for big-budget productions seeking production space with larger floor areas and higher ceilings, according to a CBRE report.
Demand for film studio space is rising beyond traditional hubs like Manhattan and L.A., with cities like Chicago opening new studios. As Class A office spaces flourish, many Class B and C buildings face potential demolition. Developers may find an opportunity to repurpose these vacant offices into much-needed film studios.