Lyra, a new 51-story, 590-unit luxury residential tower, is playing a role in the transformation of the broader Hudson Yards neighborhood on Manhattan’s far west side into a live-work-play hub.
Offering panoramic views of Manhattan, the Hudson River and New Jersey, Lyra, located at 555 W. 38th St., is packed with top-tier resident perks such as a fitness center with sweeping views, squash court, golf simulator, landscaped roof terrace with private cabanas and grills, tenant sky lounge, game room, a coworking solarium, 24-hour attended lobby, bike storage and a pet washing room.
The property website said what it offers represents “next-level city living.”
Lyra occupies the full-block fronting 11th Avenue between 38th and 39th streets just a few blocks north of Related Cos.’ Hudson Yards, the largest U.S. private development.
In a sign of demand, 194 of the 413 market units at the property had been leased at an average rent of $120 per square foot by the end of September, developer Rockrose said. A percentage of Lyra's units are allocated as affordable housing.
The property stood out as the winner of a 2023 CoStar Impact Award for best multifamily development of the year in New York, as judged by real estate professionals familiar with the market.
About the Project: Lyra’s roughly 467,000 square feet includes about 331,000 square feet of net rentable square footage and 2,049 square feet of retail space as well as amenity space spanning 16,000 square feet. The 590-unit mix consists of 266 studios, 260 one-bedrooms, and 64 two-bedrooms. The exterior of the building was designed by world-renowned architects Pelli Clarke Pelli, with unit layouts designed by SLCE Architects, and interior finishes designed by MdeAS Architects.
What the Judges Said: Lyra “was most impactful” because it brought various amenities together, which “will have a large impact on people looking to move in the area and encourage more tenants, and a younger crowd, to have interest,” said James Famularo, president of retail leasing at Meridian Capital Group.
They Made It Happen: The Rockrose development team behind the project included Senior Vice President of Residential Leasing and Marketing Alyssa Brennan; Senior Vice President of Property Management Joseph Flanagan; Vice President of Lease Administration and Compliance Yesenia Reyes; Marketing Coordinator Cassandra Andino; Assistant Leasing Manager Christopher Schaap; Leasing Administrator Ester Toledo; Senior Property Manager Justin Poy; and Resident Manager Jose Bosques.