The Real Deal New York

Related mulls sale of stake in 10 Hudson Yards

BCG lease would bring office tower to nearly full occupancy

July 22, 2015 11:00AM

Rich Lesser and rending of 10 Hudson Yards (credit: Related)

Rich Lesser and rendering of 10 Hudson Yards (credit: Related)

The Related Cos. is considering selling a stake in its 10 Hudson Yards office tower now that the building is almost fully leased. 

The developer in discussions with Boston Consulting Group that would see the Midtown-based firm take about 175,000 square feet at 10 Hudson Yards, which would boost the building to near full occupancy before its scheduled completion early next year.

A stake sale would allow Related and equity partner Oxford Properties Group to capitalize on the building’s value and provide funds to finance further construction at the 28-acre, $20 billion development, according to Bloomberg.

BCG would join fashion company Coach, cosmetics and beauty company L’Oreal and software firm SAP SE at 10 Hudson Yards. BCG was reportedly mulling a lease for roughly 200,000 square feet at another of the development’s office towers, 30 Hudson Yards. [Bloomberg News]Rey Mashayekhi