Sunset Pier 94 Studios, a new film and TV studio project in Manhattan, has officially announced a partnership with operator Hudson Pacific and financial backer Blackstone. The project, spearheaded by New York-based real estate firm Vornado Realty Trust, has been in development for several years and is set to be located on Pier 94 along the Hudson River.
The ambitious plan for Sunset Pier 94 Studios includes the construction of six soundstages, covering a total area of 266,000 square feet. Additionally, there will be 145,000 square feet of production support space and offices. In an effort to address community concerns, the project will also feature 25,000 square feet of waterfront open space and pier access, as well as public restroom facilities at Hudson River Park.
To bring this project to life, a significant investment of $350 million will be made, with construction expected to commence in the third quarter of this year. The completion of the studio complex is scheduled for 2025, as announced by the companies involved.
While initially announced during an earnings call on August 1, Vornado CEO Steven Roth clarified that the deal was still in progress. Describing the venture, Roth expressed his enthusiasm, stating, “It will be the only studio on the island of Manhattan. So we’re extremely enthusiastic about it. Where we have half the deal, we came in with the land and Hudson Pacific is the operator and Blackstone is Hudson Pacific’s partner and now our partner.”
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The partnership has since been finalized, with Vornado taking a 49.9% stake in the joint venture. Hudson Pacific will hold a 25.6% stake, and Blackstone will acquire a 24.5% stake. The public-private joint venture also benefits from support from the administration of New York Mayor Eric Adams and the New York City Economic Development Corporation. Mayor Adams highlighted the significance of the project, stating, “This project will bring critical, long-awaited investment to this public asset, turn an underutilized space into an economic driver, and improve public space and quality of life for New Yorkers.”
This expansion marks a significant milestone for Hudson Pacific, which already owns Sunset Bronson Studios in Hollywood. One of its prominent stages is currently leased by Netflix, adding to its portfolio of over 60 purpose-built stages. Hudson Pacific CEO Victor Coleman expressed excitement about the opportunity to expand in New York City, stating, “The city has an extensive, well-established production infrastructure yet is highly supply constrained in terms of stages.”
Blackstone executive Nadeem Meghji also emphasized the importance of content creation as a global investment theme. He expressed enthusiasm about participating in the unique public-private partnership, stating, “We are thrilled to be part of this one-of-a-kind, public-private partnership.”
The establishment of Sunset Pier 94 Studios represents a major milestone for the film and television industry in New York City. As the first studio of its kind in Manhattan, the project promises to stimulate economic growth, attract new talent, and enhance the production infrastructure. With the support of key stakeholders and significant investment, the studio complex is poised to become a vital asset in the city’s entertainment landscape.
