Private equity giant KKR has appointed Andrew Lustgarten, the former CEO and President of MSG Sports, as the Executive Chair of the Hudson Yards Experiences. The move is aimed at boosting visitor numbers to the Edge observation deck, which has failed to meet expectations despite its stunning views.
The Edge is located on the 100th floor of 30 Hudson Yards and extends 80 feet out from the building. It opened on March 11, 2020. KKR owns a majority stake in the Hudson Yards Experiences, which also includes CityClimb and Peak 101st floor restaurant and event space overlooking the Edge. Related Companies also holds a stake in Hudson Yards Experiences.
Lustgarten’s plan is to introduce more programming to attract visitors to The Edge. This includes hosting a July 4 fireworks event from the Hudson River instead of the traditional East River setting. He is also bringing on Francesca Merlino as Chief Commercial Officer and Joseph Whitman as General Manager, both with experience working at MSG.
Prior to his appointment at MSG Sports, Lustgarten oversaw business operations for both the Knicks and Rangers at Madison Square Garden (MSG). He will now serve as an advisor to KKR on other sports and media investments. KKR is known for its backing of Skydance Media, which recently announced it will be merging with Paramount Global.
Sources in New York’s tourism industry are hopeful that Lustgarten’s leadership will help turn things around for The Edge, which has struggled since its opening two years ago. Despite its breathtaking views, many visitors have been put off by long lines and high prices.
“We are excited about this opportunity,” said one source close to the project. “With Andrew’s experience in sports and media, we believe he can bring new energy and ideas to make The Edge even more appealing.”