Related mulls sale of stake in 10 Hudson Yards

BCG lease would bring office tower to nearly full occupancy

New York /
Jul.July 22, 2015 11:00 AM

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


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Rob Gronkowski and 35 Hudson Yards (Getty, SOM)
Rob Gronkowski buys Hudson Yards home for $7M
Rob Gronkowski buys Hudson Yards home for $7M
Stephen Ross (Getty, iStock)
Stephen Ross puts $500K into PAC. Where’s the rest?
Stephen Ross puts $500K into PAC. Where’s the rest?
Related Companies chairman Stephen Ross and Kara Ross (Getty)
Stephen Ross, wife to divorce after 18 years
Stephen Ross, wife to divorce after 18 years
Related's Stephen Ross and Jeff Blau (left) with 15 Hudson Yards (Getty, Hudson Yards)
Related’s 15 Hudson Yards lands $108M condo inventory loan
Related’s 15 Hudson Yards lands $108M condo inventory loan
David Chang (Getty)
Momofuku Kāwi and Peach Mart close in Hudson Yards
Momofuku Kāwi and Peach Mart close in Hudson Yards
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...