Interview With Hudson Companies David Kramer On More Than A Quarter Century Of Roosevelt Island Real Estate Development - Take A Tour Of The New Hudson Related Riverwalk Heights Luxury Rental Building Too

In 1997 the Roosevelt Island Operating Corp (RIOC) designated a joint venture between the Hudson Companies and Related Companies (Hudson Related) to develop the Southtown area of Roosevelt Island with a 9 building development now known as Riverwalk. So began Hudson Companies developer David Kramer's

Image Of David Kramer Being Interviewed At Riverwalk Heights Rooftop Lounge

more than a quarter century relationship with Roosevelt Island. Mr Kramer has now seen completion of Riverwalk Heights, the ninth and final building of the Southtown project.

The Riverwalk Heights building includes staff housing on the first 8 floors for Memorial Sloan Kettering hospital employees, 7 thousand square feet of ground floor and below grade commercial office space for RIOC, 20 floors of market rate luxury rental apartments and an extension of the current Riverwalk Commons between Riverwalk Heights and Riverwalk Park buildings with outdoor recreational areas and 2 dog runs.

I recently met with Mr Kramer, took a tour of the new Riverwalk Heights building and spoke with him about his Roosevelt Island experience. According to Mr Kramer:

What are my thoughts? It's been a quarter century so I've had a lot of thoughts through the years. I don't think when we started in 1997 we had any vision it would end up as beautifully as it has with the types of buildings, with the success and variety we've had building nine different buildings. We've developed everything from condominiums to rental housing to affordable housing to staff housing for the hospitals and then we got involved with Cornell Tech and developed their residential tower so it's been a it's been a fun run. 

We feel very committed as Roosevelt Island stakeholders since we started and we may have saved the best for last. Riverwalk Heights is the tallest building, everything on the west side of Main Street is 16 stories and this building is 28 stories so it's got the best views. 

You're filming me now in the rooftop lounge and up here we have a lounge, a kitchen area that you can reserve to throw a private dinner party, we have a co-working space and a VR room so there's a lot of amenities up here. There's a lot of amenities down in the lower level next to the lobby including a half  [basketball] court, gym,  fitness room and kids lounge...

About the RIOC office space, Mr Kramer says:

... The ground floor we negotiated office space for RIOC. I forget what the backstory was, but part of it was "Hey come on RIOC you could use some nice classy modern office space".

Their old office space was pretty dumpy and as long as we were building new buildings it made sense that maybe we should negotiate something so that they would get a below market office rent and we were happy to have some of the first floor go to RIOC. So RIOC has two levels at the base of the building and I think they're moving in shortly...

I asked Mr Kramer about any future development opportunities on Roosevelt Island. Mr Kramer answered:

... We are stakeholders and we have really enjoyed being here. We know the Island. Never say never.  Right now the Island is built out per the terms of the General Development Plan which is the Lease between the City and the State so at this moment the only way that Hudson Related may get involved is on a subsequent phase of Cornell Tech.

But for the non-Cornell tech part of Roosevelt Island those of us who care about Roosevelt Island have talked about whether there are other development opportunities, whether it has to do with the Steam Plant building or I think the the City's planning to continue to maintain Colar as a hospital so I'm not sure exactly where there may be new opportunities. 

Should Roosevelt Island expand and have a higher residential population you know that's reasonable people can disagree. Certainly we've all seen the issues of the tram being crowded with tourists there's an issue of people getting on the subway in the morning....  you'd have to think through those issues...

As you know Hudson Related is also very involved in the retail leasing of the Island. With the exception of WestView we operate all the other retail on the Island so from the retailer's perspective, the Island could certainly use more foot traffic but  it's to be determines .... 

Mr Kramer added:

.... and the only way people will know what's happening is if they read their Roosevelt Islander blog to find out all the important information about the Island. 

Here's the full interview with Mr Kramer.

Mr Kramer also noted his first experience with Roosevelt Island was before Hudson Related was designated the Southtown developer. As he was running a Roosevelt Island  5K in 1996, he turned his head and noticed being cheered on by Al (Grandpa Munster) Lewis in the homestretch of the race.

Photo of Al Lewis with friends at Trellis Restaurant By Karen Lewis

During my tour with Mr Kramer, I also spoke with Riverwalk Heights Related Rentals Leasing Agent Lisa Ansari about the building. According to Ms Ansari:

Riverwalk Heights is our newest building. it's the ninth building with Related Hudson Venture. We are the also the tallest building so you have this amazing view of the city...   We have studios all the way up to two bedrooms. For two bedroom we have two types. Two bedrooms, one bath and two bedrooms two bath.

We have an amazing amenity space upstairs with rooftops and lounges ....  we also have additional areas where you have to pay an amenity fee. Our amenity fee is $50 per person per month. It includes the VR room, co-working space, we also have downstairs the gym and the kids room and the half basketball court...

... Studios range anywhere from our smallest one being around 430 square feet and the largest one around 560 square feet. Studio price ranges anywhere from around $3200 to $3,300 all the way up to a little over $4,000 for the premium corner studios.

For one bedroom we have square footage around 670 all the way up to about 750 square ft. Some are corner, some are not corner but they all have amazing views and the price range is around anywhere from around $41 or $4,200 and then of course the higher premium floors are 5,000 plus. 

The two bedroom one bath  starts around $61 or $6200 and they are approximately about

850 square feet and the two bedroom two bath which is facing south and west and  north,  that one is approximately 1075 square ft and price range right now they start around $6500 but right now we don't have very many left and the highest floor we have left is at $7280 on the 28th floor...

Here's Mr Kramer shooting hoops at the Riverwalk Heights indoor basketball court and the stunning views high above Roosevelt Island from the building's rooftop terrace. 

The Riverwalk Heights website and Instagram Page has more info on the building.

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Roosevelt Island Operating Corp Getting Ready To Move Into New 7000 Square Foot Office Space At Hudson Related's Riverwalk Heights Luxury Rental Building

Roosevelt Island Operating Corp (RIOC) signage is now in place 

for their new 7 thousand square feet of RIOC office space on the ground floor and below grade space in the recently opened Riverwalk Heights Roosevelt Island luxury market rate rental building from the Hudson Related developers. 

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Here's more on the

Riverwalk Heights (also known as Riverwalk 9) building from an October 19, 2022 RIOC Real Estate Committee meeting

presentation by Hudson Related's David Kramer.

Roosevelt Island Riverwalk Commons East Open Public Space Currently Under Construction For Planned Spring 2025 Opening With New Dog Run, Picnic Tables, Porch Swing & More

The Roosevelt Island Community WhatsApp group asked today about the layout for the still under construction Riverwalk East Commons public open space

between Riverwalk Park (#8) and the recently completed Riverwalk Heights (#9) buildings: 

A year or so ago, I saw a blueprint/design document for Riverwalk 9 that included a layout of the shared courtyard between buildings 8/9 including the dog park. Does anyone know where I could find this?

It’s too bad they didn't include both a small and large dog park. That is really important as some dogs need space to move but can’t be with bigger dogs, or need the option to be separated. Also, the increase in dogs thanks to the new building is notable.

I asked Riverwalk Heights and Riverwalk Park developer Hudson Related:

Several residents asked today about plans for the Riverwalk Commons dog run and other features.

Will the dog run have separate space for big and small dogs?

Also, what other features will the Commons have and is May the opening date?

Can you share any renderings or design of the Commons?

This was a proposed plan before construction.

Are there any changes?

Hudson Companies Jordan Camina replied:

The dog run will be split for small dogs and large dogs with separate entrances. The dog run will be a turf-type material designed for dogs.

We are still targeting a spring opening for the Commons East and work continues on-site towards completion.

The Commons was modified to be accessible directly from the riverside promenade as RIOC is no longer pursuing the bike-path project.

The design itself is largely unchanged besides the relocation of the dog run towards the river. Unfortunately, I don't have a nice color render of the Commons East like the original one you cited in your email.

During the February 3 RIOC Real Estate Development Advisory Committee meeting (REDAC), Mr Camina reported that the temporary dog run at Firefighters Field will soon be moving to the Riverwalk Commons East and that the new Dog Run will have lighting.

Related Companies Frank Monterisi describes the new Roosevelt Island Rivercross East Commons Open Space under construction

during a November 2024 interview.

FDNY Rescues Worker Injured After18 Foot Fall In Excavation Area At Roosevelt Island Riverwalk Construction Site This Morning- FDNY Chiefs Describe What Happened

About 9:40 this morning multiple Roosevelt Island Tipsters reported:

Tons of emergency vehicles

heading down Main Street towards the Southtown Riverwalk buildings.

According to NYC Firewire:

Manhattan *TRENCH RESCUE* Box 1924
430 Main St on Roosevelt Island
WORKER DOWN 12FT IN A HOLE W LEG INJURY

— NYCFireWire (@NYCFireWire) December 21, 2023

I spoke to FDNY Chiefs on the scene who report a worker was injured falling approximately 15 to 18 feet into a hole at the Riverwalk building 9 construction site. 

The rescued worker was in stable condition and transported to a hospital.

I asked building developer David Kramer of Hudson Related:

There’s been an incident this morning at construction site. Huge presence by FDNY.

Not sure exactly what happened yet. Appears to be an injured worker. Do you know yet what happened?

Mr Kramer answered:

This is what I understand: The worker was in the excavated area where we’re doing Con Ed work. He fell from a 3’ ladder and unfortunately broke his leg. DOB visited the site and didn’t issue any violations after characterizing the situation as “worker error”.

As previously reported, a worker was injured and rescued by FDNY at the Riverwalk building 9 construction site last August falling one floor from the 25th floor. The NYC Department of Buildings did not find violations at the construction site.

Worker Injured Falling From 25th Floor Of Roosevelt Island Riverwalk Building 9 Construction Site This Evening - FDNY Says Worker Fell 1 Floor And Taken To Hospital

This evening at about 5:30 PM, the FDNY 

came to the aid of a worker injured at the Roosevelt Island Hudson Related Riverwalk building 9 construction site

at 430 Main Street.

I was told by the FDNY on scene that the worker was injured falling from the 25th Floor to one floor below and taken to a hospital.

According to the FDNY press office the worker was taken to NY Presbyterian Hospital and:

We have reported that patient fell 1 floor, we do not have any further information.

This is preliminary information and will be updated when more becomes available.

UPDATE 8/15 - Hudson Related's David Kramer reports:

DOB inspected this morning and determined the accident as a worker error. No violations were issued.

According to the NYC Department of Buildings:

Do not know the condition of the injured worker at this time.

Update On Roosevelt Island Riverwalk Building 9 Construction Progress From Hudson Related Developer David Kramer - It's Going Up Fast, New Floor Of Concrete Poured Every 3 Days, Watch The Interview

Developer Hudson Related began construction on the 28 story Roosevelt Island Southtown Riverwalk Building 9 in November of 2022. 

I spoke with Hudson Related developer David Kramer last Monday at the building site about the construction progress. According to Mr Kramer, 

... We're now at the exciting stage of concrete where we pour a new floor every three days, so a three-day cycle. We're pouring the fifth floor tomorrow, which is Tuesday May 9th and we're pouring the sixth floor Friday and so basically, if you think about every three business days, we're pouring a different floor. We're getting to the top floor at the end of August. We're assuming we're going to top out this project at the end summer, end of August. 

Now this is sort of an exciting part of the construction where the concrete guys are really running the show and pouring a new floor every three days and they're followed behind by the plumbers, electricians, mechanicals and other subcontractors who will always be a few floors below where the concrete is poured....

.... Most important when we top out, we have a party and a Topping Out T Shirt... 

Mr Kramer anticipates Riverwalk Building 9 being completed by the end of 2024, beginning of 2025.

Here's the full interview with Mr Kramer.

and a photo montage showing the progress of construction at the site.

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 As previously reported:

... the lower eight floors of Riverwalk Building 9 will be acquired by Memorial Sloan Kettering Hospital for workforce housing and the upper 19 floors will be market rate rental apartments.

Building 9 will have combined 7 thousand square feet of ground floor and below grade office space for the Roosevelt Island Operating Corp with a separate entrance and signage....

... Hudson Related will create a Public Commons space between building 8 and 9 that will include a new dog run. picnic tables, grill stations, amphitheater steps, porch swings, hammocks and cherry grove as shown below....

More information on Hudson Related $187 million Riverwalk Building 9 project from this RIOC Memo

 and this November 17, 2022 post.

Beautiful Roosevelt Island East River Sunrise View This Morning Looking Over New Riverwalk Building Construction Site - View Will Soon Be Lost By New 28 Story Building

A Tipster shares beautiful Roosevelt Island East River sunrise this morning

 above the Riverwalk building 9 construction site.

Sadly for the Tipster and a few others, the view will soon be lost.

Here's more info on the $187 Million, 28 story, market rate rental building which will have 357 units including 104 workforce housing apartments for employees of Memorial Sloan Kettering and 7 thousand square feet of office space for the Roosevelt Island Operating Corp.

Construction Begins On $187 Million, 28 Story Roosevelt Island Riverwalk Building 9 - Developer Hudson Related Says 357 Units Will Include Market Rate Rentals, Memorial Sloan Kettering Workforce Housing And RIOC Office Space - Also Public Commons Area With Dog Run, Picnic Tables, Grill Stations, Porch Swings, Cherry Grove & More

Developer Hudson Related has begun construction on the Roosevelt Island Southtown Riverwalk Building 9.

 

 Hudson Related announced on Monday November 14: 

RELATED COMPANIES AND HUDSON CLOSE ON FINAL BUILDING OF ROOSEVELT ISLAND’S RIVERWALK NEIGHBORHOOD 

Riverwalk 9 will Complete the Quarter-Century Effort by Related and Hudson to deliver a 9-Building Community with more than 2,000 Residences, Retail, Restaurants, Parks, and more .

Project will Create 357 Much-Needed Apartments, including Workforce Housing for Memorial Sloan Kettering Cancer Center Employee.... 

During the October 19, 2022 Roosevelt Island Operating Corp (RIOC) Real Estate Development Advisory Committee meeting, Hudson Related developer David Kramer outlined plans for the new 28 story Riverwalk 9 building 

Credit Handel Architects

which will be located between the Riverwalk 8 affordable housing building and Firefighters Field.

Mr Kramer reported that the lower eight floors of Riverwalk Building 9 will be acquired by Memorial Sloan Kettering Hospital for workforce housing and the upper 19 floors will be market rate rental apartments.

Building 9 will have combined 7 thousand square feet of ground floor and below grade office space for the Roosevelt Island Operating Corp with a separate entrance and signage.

Mr Kramer added that the RIOC office space is:

... a sweetheart rent, probably not right adjective to use, let's just say a below market rent that was part of the negotiation....

Hudson Related will create a Public Commons space between building 8 and 9 that will include a new dog run. picnic tables, grill stations, amphitheater steps, porch swings, hammocks and cherry grove as shown below.

Also, a portion of Firefighter’s Field will be closed to public access during construction of the Building 9 superstructure. This work will also include erecting scaffolding along the boundary between the south side of the Building 9 site and the north side of Firefighter’s Field, erecting of sidewalk sheds, and adding a temporary curb ramp and crosswalk.

Here's Mr Kramer's Riverwalk Building 9 presentation to the October 19 RIOC REDAC committee

More information on Riverewalk Building 9 from this RIOC Memo

and November 14 press release from Hudson Related.

Related Companies and The Hudson Companies today announced the closing on $185 million in construction financing for the ninth Riverwalk building, a development in the Riverwalk neighborhood of Roosevelt Island. The new facility will include workforce housing for Memorial Sloan Kettering Cancer Center (MSK) employees, market-rate rental apartments, and office space. Wells Fargo provided financing for the housing development. The project was designed by Handel Architects and will be built by Monadnock Construction. Construction will begin in the coming weeks, with an expected completion in mid-2025. The $185 million project includes $111 million of financing from Wells Fargo. In conjunction with the closing, Related and Hudson are executing the ground lease for the site from the Roosevelt Island Operating Corporation (RIOC).

“Riverwalk 9 is the realization of decades of hard work and resiliency through multiple challenges, including economic downturns and a global pandemic, to create new housing opportunities and further support the Roosevelt Island community and New York,” said Frank Monterisi, Executive Vice President at Related Companies. “We are proud to finally reach this monumental milestone, along with our partners at Hudson, along with Memorial Sloan Kettering, RIOC and Wells Fargo, for the Riverwalk Park neighborhood.”

“The start of work on Riverwalk 9 marks the culmination of a quarter century of work with our partner to build an entirely new and thriving neighborhood on Roosevelt Island,” said David Kramer, Chief Executive Officer of The Hudson Companies. “From our first planning meetings in 1997, we set out to bring these 19 undeveloped acres to life through mixed-income rental, condominium and institutional housing, dynamic retail, and beautiful new public open space. As we begin construction on the neighborhood’s final building, we’re proud to say we’ve achieved that vision. Thanks to our partners at Related, Memorial Sloan Kettering and RIOC, along with our funder Wells Fargo for their instrumental work in helping us reach this milestone.”

“The development of Riverwalk 9 marks the final phase of years of historical development at Roosevelt Island Operating Corporation (RIOC),” said Roosevelt Island Operating Corporation President and CEO Shelton J. Haynes. “The timely closing of this deal is indicative of the hard work of all parties involved at RIOC and our partners at Related Companies and Hudson. I cannot wait to get shovels in the ground to unveil our latest investment that will continue the tremendous economic boom we are experiencing. Once completed, Riverwalk 9 will spur further job growth, create new housing, and contribute nicely to the beauty of Roosevelt Island.”

“Wells Fargo is excited to be a part of the final phase of the Riverwalk development with Related Companies, The Hudson Companies and Memorial Sloan Kettering, bringing much needed housing to Roosevelt Island,” said Brian Lucey and Anna Belobrovka, managing directors in Wells Fargo’s Commercial Real Estate group.

Located at 430 Main Street, Riverwalk 9 is the fourth development designed with housing for MSK employees as part of the overall Riverwalk neighborhood. The new 28-story building will consist of 104 homes for the MSK community with a range of studios, two-bedroom, and three-bedroom across eight floors, and 253 market-rate studios, one-bedroom, and two-bedroom residences.

The building will also include ground-floor office space for the Roosevelt Island Operating Corporation (RIOC) and a commons space between the eighth and ninth buildings with new park lighting, a dog run, grill space, and acres of public open space. Amenities will include a fitness center overlooking the East River, a basketball court, a party room, a multi-sport virtual reality game room, and much more.

The start of work on Riverwalk 9 marks the culmination of a more than quarter century long effort by the Related-Hudson joint venture, which was designated by RIOC in 1997 to build the new community to fulfill the Island’s General Development Plan designed by Philip Johnson and John Burgee. Once complete, the entire Riverwalk complex will include nine buildings with more than 2,000 condominium and rental apartments, 40 percent of which are affordable. The area also includes hundreds of institutional workforce apartments at a range of income levels in each of the nine residential buildings for employees of MSK, Weil Cornell Medicine and others.

At the same time, Related-Hudson has developed parks, daycare facilities and ballfields as part of the undertaking, along with much-needed retail along Main Street, where it owns 90,000 square feet across 33 stores. Since the joint venture was designated to take over the master lease for this half-vacant retail corridor in 2011, it has transformed the stretch through extensive renovations and outdoor seating areas, signage, lighting and benches. Today, it's a vibrant shopping area for Roosevelt Islanders. Riverwalk is a short subway and tram ride away from Manhattan’s Upper East Side and a one-ferry ride from Astoria and Long Island City.

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