Tishman Speyer paid city, state $78M for air rights at Hudson Yards project

The $3.2B building is slated to rise 65 stories

Nov.November 08, 2016 05:36 PM

Developer Tishman Speyer spent $78 million earlier this year to obtain air rights from the state and the city for its Hudson Yards project the Spiral.

The developer bought the air rights from the city and state’s joint stock of development rights that are associated with the 2004 rezoning of the eastern rail yards, Crain’s reported. It’s the second time Tishman Speyer TRData LogoTINY has purchased air rights for the Spiral. Last year the developer paid $30 million to the Imperatore family for 235,000 square feet of rights.

Tishman Speyer officially filed plans for the office skyscraper at 66 Hudson Boulevard, or 509 West 34th Street, in September.  Plans filed with the city’s Department of Buildings called for a 2.2 million-square-foot tower, although Tishman Speyer is marketing the property at 2.85 million square feet.

The building — which has been named the Spiral for featuring a continuous band of terraces that wrap around the building — is designed by Bjarke Ingels, the Danish architect behind the 2 World Trade Center redesign and VIA57.

Asset management giant BlackRock is considering the building, along with neighboring 50 Hudson Yards, for its new headquarters[Crain’s]Miriam Hall

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

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

Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)

Facebook close to finalizing Hudson Yards office deal: report

Georgetown president and CEO Adam Flatto and an aerial of 260 12th Avenue (Credit: Patrick McMullan/Patrick McMullan via Getty Images; Google Maps)

Georgetown plans 1.1M sf Hudson Yards office building

NYCHA wants to create “citywide clearinghouse” for its 80M sf of air rights

NYCHA wants to create “citywide clearinghouse” for its 80M sf of air rights

Empire State Realty Trust’s CEO Tony Malkin and Hudson Yards' The Edge (Credit: Getty Images)

Tony Malkin throws shade at Hudson Yards’ new observatory

Steve Ross, Eliot Spitzer and a rendering of 451 10th Avenue (Credit: Getty Images) 

Spitzer, Related land $276M in financing for Hudson Yards senior housing project

The Wheeler at 181 Livingston Street with Tishman Speyer's Rob Speyer (Credit: The Wheeler, Getty Images)

For-profit Whittle School inks lease for Tishman Speyer’s The Wheeler