Vessel is a central piece of currently largest USA development project – Hudson Yards New York. It is sculpture which consists of 154 flights of stairs which people can climb and explore the levels. Interestingly people who climb it can only discover other people climbing it, as the sculpture features nothing else but stairs and its visitors.
Hudson Yards brand is promoted with a lists of activities: live work shop dine. The value it offers is the combination – nexus – of all of those in a single offering in Manhattan. The value is real, but only practical. Practical values are never sufficient for customers. People are too complex to think only about the practical value of saving time driving between live work shop dine locations.
Investors and Heatherwick Studio realized that Vessel ads important intangible values: culture, humanity, positivism. While they are hard to verbalize, we will all agree that these are values we feel and crave. These intangible values will be transferred on all brands present in the Hudson Yards portfolio, and all associates brands, such as retailers and office owners. Finally, it will inspire all its residents daily. This will have a positive impact on brand equity and finally revenue.
New York City has always been in competition with cities with bigger cultural history, such as London, Rome, and Paris, and its developers and artists has worked fast to catch up. The true value of real estate are the intangible values such as culture.