The Real Deal New York

Financial firms just can’t get enough of
Hudson Yards

Three new deals at 55 Hudson Yards total 56K sf
December 05, 2017 09:07AM

Rendering of 55 Hudson Yards (credit: Kohn Pederson Fox)

Hudson Yards is quickly becoming synonymous with asset management firms the way Wall Street is with big banks.

Three investment firms inked leases totaling 56,000 square feet at Related Companies, Mitsui Fudosan America and Oxford Properties Group’s 55 Hudson Yards, making the office tower 90 percent leased. Quantitative trading firm Engineers Gate Manager, which it moving from Carnegie Hall Tower, is taking 18,000 square feet and Arosa Capital Management is taking 10,000 square feet, the Wall Street Journal reported. HealthCor Management also inked a deal to to move to the tower.

Steve Cohen’s Point72 Asset Management and Daniel Loeb’s Third Point previously signed leases at the 1.3-million-square-foot tower.

Meanwhile, asset manager BlackRock will be the anchor tenant at nearby 50 Hudson Yards and KKR is taking a big chunk of space at 30 Hudson Yards. “KKR’s decision to move to the West Side was a pivotal moment,” Related’s vice president of commercial leasing Stephen Winter told the Journal.

Mitsui Fudosan paid $259 million for a majority stake in 55 Hudson Yards in 2014. [WSJ]Konrad Putzier