The Real Deal New York

Wells Fargo to buy two office condos at 30 Hudson Yards

Bank will occupy a total of 500K sf at the rising West Side tower

November 19, 2015 11:03AM

Hudson Yards

A rendering of Hudson Yards (inset: Wells Fargo’s John Stumpf)

Wells Fargo is the latest multinational firm to commit to owning massive spaces at 30 Hudson Yards, agreeing to buy the massive West Side tower’s last office condominium units.The San Francisco-based bank will buy two spaces at the tower totaling about 500,000 square feet, roughly a fifth of the 2.6 million-square-foot project currently being developed by the Related Cos. and Oxford Properties.

The specific floors the firm will occupy aren’t yet known, nor is the price it agreed to pay, the New York Observer reported.

Wells Fargo currently makes it home at a 372,000-square-foot space at 150 East 42nd Street in Midtown. It’s lease there expires in June 2019, according to CoStar. Hudson Yards is slated for completion around the same time.

There’s not much space left at 30 Hudson Yards. Time Warner bought a colossal 1.6-million-square-foot office condo there last year. More recently, private equity firm Kohlberg Kravis Roberts agreed to buy a 400,000-square-foot space at the building. Related itself plans to take 270,000 square feet there as well. [NYO]Ariel Stulberg