The Real Deal New York

Related files plans for Hudson Yards office tower

Building with 393,000 square feet to rise on former Extell site
By Hiten Samtani | March 07, 2014 12:15PM

UPDATED, 4:55 p.m., March 7: Stephen Ross’ the Related Companies has applied for permits for 550 West 34th Street, a planned commercial tower in the Hudson Yards district, according to property records filed with the city late last month.

According to Department of Buildings permits filed February 24 and seen by TRD, the 392,899-square-foot building at 550-570 West 34th Street is being designed by architecture firm Kohn Pedersen Fox Associates, which is also the master planner behind the entire Hudson Yards megaproject. The permits, which were filed with the Department of Buildings on February 24, were first spotted by PropertyShark. A representative for Related declined comment.

The move comes on the heels of a deal that Related did in June with Gary Barnett’s Extell Development, which owned the site since at least 2007, according to city records. As part of the transaction, Related paid Extell $168 million for the site, and also agreed to give Extell a site it owns with Boston Properties on Eighth Avenue and West 45th Street, ending a tense standoff between two of the city’s biggest developers.

Related has been snapping up parcels in the Hudson Yards area, but recently switched tack, selling a 200,000-square-foot office site at 511-541 West 25th Street to L&L Holding Company and Prudential for $160 million.