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New York

Japanese firm looking to invest in Related’s Hudson Yards

Mitsui Fudosan reportedly in talks to buy stake in tower that JPMorgan Chase eyed for its HQ

From left: Mitsui's Yukio Yoshida and a rendering of 55 Hudson Yards
From left: Mitsui's Yukio Yoshida and a rendering of 55 Hudson Yards

Mitsui Fudosan, a Tokyo-based real estate firm, is looking to take a large stake at Related Companies’ 55 Hudson Yards on the Far West Side.

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Specifically, the firm is looking at the planned tower which will be located at 34th Street and 11th Avenue. That’s the building JPMorgan Chase would have occupied if the bank’s plan to build a $6.5 billion headquarters had panned out, according to Crain’s.

It’s not yet clear how much Mitsui Fudosan wants to invest in the skyscraper, but the company is reportedly considering taking a majority stake. Over the summer, the Japanese company raised $3.2 billion in a stock offering, the news outlet reported. The company owns a large office tower at 1251 Sixth Avenue. [Crain’s] — Claire Moses

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Hudson YardsMitsui FudosanRelated Companies