The Real Deal New York

Posts Tagged ‘Hudson Yards’

  • Does no one have a spare $2B these days?

    November 19, 2015 02:45PM
    2wtc burger

    Marty Burger and a rendering of the completed World Trade Center development

    With debt markets booming and interest rates at record lows, you would think developers have an easy time raising funds. But industry leaders still lament that securing financing is a challenge – at least for giant projects like Hudson Yards or the World Trade Center. [more]

  • 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. [more]

  • 10 Hudson Yards Related

    Rendering of 10 Hudson Yards (credit: Related) (inset: Jeff Blau)

    Luxury brand Coach Inc. is said to be marketing its 40 percent interest in 10 Hudson Yards – the first skyscraper that will be completed at Related Cos.’ Hudson Yards megadevelopment on Manhattan’s Far West Side. [more]

  • Hudson Yards New York

    Hudson Yards New York

    The Related Companies is approaching the half-way point of the office portion at Hudson Yards after topping off the first tower last month and signing a handful of deals at the second building. Click here for a look at which office tenants are on board and how much space is left in the megaproject.

  • David Marx Hudson Yards

    Rendering of 461 West 34th Street in Hudson Yards and David Marx

    Developer David Marx secured a $65 million land loan from Joseph Moinian’s Moinian Group to finance construction of a 399-room Marriott Courtyard hotel that Marx is building in the Hudson Yards neighborhood.

    The financing replaces a $60 million bridge loan that Marx received last year from the Related Cos., which is spearheading the 17 million-square-foot Hudson Yards megadevelopment, and Highbridge Principal Strategies. The hotel is slated to rise at 461 West 34th Street on the corner of 10th Avenue. [more]

  • Hudson Yards

    From left: 10 Hudson Yards, 55 Hudson Yards and 30 Hudson Yards

    From the November issue: Last month’s topping-off ceremony at 10 Hudson Yards was marked by the usual fanfare associated with such events — jeans-clad construction workers were assembled alongside suited executives, speeches were made and concrete was hoisted and poured.

    There was good cause for celebration. The 52-story tower represents the first of Related Companies’ five planned office buildings on the Far West Side. With 94 percent of its space spoken for, 10 Hudson Yards will open its doors in the spring to tenants such as Coach and L’Oreal. [more]

  • A rendering of Hudson Yards (inset: Henry Kravis)

    A rendering of Hudson Yards (inset: KKR’s Henry Kravis)

    Private equity firm Kohlberg Kravis Roberts is about to pull the trigger on a long-rumored Hudson Yards investment. [more]

  • Hudson Yards retail

    Rendering of the Shops & Restaurants at Hudson Yards (inset: Jeff Blau)

    Related Cos. and Oxford Properties Group have tapped the Bank of China and Deutsche Bank to lead $1.5 billion in construction loan financing for the 1 million-square-foot Shops & Restaurants at Hudson Yards. [more]

  • Stephen Ross (credit: Studio Scrivo)

    Stephen Ross (credit: Studio Scrivo)

    The Related Companies has lined up a tenant that will take nearly 300,000 square feet in its northern Hudson Yards tower when the 90-story building is finished in 2019: the Related Companies. [more]

  • From left: Gary Barnett (Photo: STUDIO SCRIVO), 217 West 57th Street, Jeff Blau and the Hudson Yards megadevelopment

    From left: Gary Barnett (Photo: STUDIO SCRIVO), 217 West 57th Street, Jeff Blau and the Hudson Yards megadevelopment

    A quick glance at Manhattan’s rapidly changing — and rising — skyline is all the proof New Yorkers need to see that the city’s biggest developers aren’t messing around. Click here to watch The Real Deal’s latest video, which features a closer look at the borough’s busiest builders.

  • Hudson Yards Blau Jeff

    A rendering of Hudson Yards (credit: Kohn Pedersen Fox) (inset: Jeff Blau)

    UPDATE, 3:01 p.m., Oct. 8: The first skyscraper at Hudson Yards will open in just a few months, Related Companies’ CEO Jeff Blau announced at a ceremony celebrating the building’s topping off. [more]

  • 520 West 30th Street

    Rendering of 520 West 30th Street in Hudson Yards (credit: Related) (inset: Jeff Blau)

    UPDATED, 4:55 p.m., Oct. 6: Related Cos. secured a $200 million building loan from JPMorgan Chase for its 28-story Hudson Yards residential tower at 520 West 30th Street, property records show. [more]

  • Hudson Yards

    A rendering of Hudson Yards (inset: David Rozenholc and Rob Speyer)

    A pair of dogged, enterprising tenants – or system-exploiting jerks, depending on your point of view – won a massive settlement from Tishman Speyer for finally vacating their West Side pad. [more]

  • Hudson Yards

    Rendering of Related Cos.’ Hudson Yards (inset: Bruce Beal Jr.)

    Related Cos. acquired a McDonald’s on the far West Side of Manhattan, which — while not coming with fries and a drink – could pave the way for the developer’s latest Hudson Yards skyscrapers. [more]

  • EB-5 extended through mid-December

    September 30, 2015 03:38PM

    056 EB5 se FINAL.inddThe EB-5 visa program, a vehicle for foreign investment in major New York City real estate developments, received a last-minute reprieve on Wednesday, after the U.S. Senate passed a temporary spending bill that will keep the government — and the program — operating through Dec. 11.

    EB-5 was set to expire Sept. 30 but a stopgap bill introduced last week will keep it afloat for the next few months. [more]

  • Daniel Fournier Richard Lesser

    From left: Ivanhoe Cambridge’s Daniel Fournier and Oxford Properties’ Richard Lesser

    Forget the Chinese and the Russians, the largest foreign investors in New York City real estate in the last decade are our neighbors to the north.

    Canadians invested $3.8 billion into the city’s property market so far this year, already nearly doubling last year’s $1.97 billion total, and surpassing the previous record of $2 billion set in 2007, according to Real Capital Analytics.

    Canadian investors have purchased $15.5 billion worth of property in the city in the last decade, more than any other foreign country. [more]

  • Patrick Foye 431 West 33rd

    From left: The Port Authority’s Patrick Foye and 431 West 33rd Street

    UPDATED, 10:42 a.m., Sept. 22: The Port Authority of New York and New Jersey filed a permit application to construct a nine-story, 24-unit residential building at 431 West 33rd street, between 10th and 11th avenues.

    The bistate agency is close to finalizing approval for a developer to take the lead on the project.  [more]

  • 7_Line_Extension_Ceremonia_Ride_vc

    Then-mayor Michael Bloomberg at the station in December 2013

    The first new subway station in NYC in 25 years opens today. After transit and city officials take an inaugural ride, the Hudson Yards 7 train station at West 34th Street and 11th Avenue will open to the public at 1 p.m. [more]

  • Christopher Hohn and a rendering of Hudson Yards

    Christopher Hohn and a rendering of Hudson Yards

    A United Kingdom-based hedge fund that’s bankrolled the construction of supertall condo for big shots like Harry Macklowe and Larry Silverstein is making an $850 million loan to the Related Cos. for one of its Hudson Yards residential towers. [more]

  • Skyscraper glass costs are soaring

    September 09, 2015 08:31AM

    A rendering of Hudson Yards (inset: Bruce Beal Jr.)

    All the money and ambition in the world isn’t enough to build New York’s towering glass-and-steel high-rises. You need to be able to buy glass, too.  [more]