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3 companies first tenants at Hudson Yards

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NEW YORK (AP) -- Manhattan's Hudson Yards project has its first major tenants.

Luxury retailer Coach, beauty company L'Oreal USA and the software company SAP will occupy the first tower going up over the railroad storage yard on the Far West Side.

The rail yards' developers, Related Companies and Oxford Property, made the announcement on Wednesday.

They said they've completed the financing for the 47-story tower at the northwest corner of 30th Street and 10th Avenue.

The New York Times says the developers also closed a deal with the MTA to build a commercial and residential complex over the eastern section of the yards. Both sides plan to close on the western yard a year from now.

The rail yard is the largest undeveloped property in Manhattan.

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