First he sold a plot of land to Hudson Yards’ developers. Now he owns 7 luxury condos there

Combined, the five units span 12K square feet

TRD New York /
Sep.September 24, 2019 03:45 PM
15 Hudson Yards (Credit: Related-Oxford, iStock)

15 Hudson Yards (Credit: Related-Oxford, iStock)

UPDATE, September 25, 2019, 6 p.m.: The seller of land to Related Companies and Oxford Properties for one of their Hudson Yards skyscrapers has scooped up at least seven condominiums at another property in the megadevelopment.

An entity with William A. Dalessandro as president dropped almost $61 million for the “A” condos on the 74th through 80th floors at 15 Hudson Yards, property records filed this week show. The three-bedroom sponsor units each measure between 2,300 and 2,400 square feet. Together, they span over 16,500 square feet.

Dalessandro could not be reached for comment. Related and Oxford did not immediately respond to requests for comment.

The 285-unit building is Related and Oxford’s 88-story luxury residential complex that opened earlier this year. Related Sales LLC and Corcoran Sunshine Marketing Group are handling sales at the project, whose 88th-floor penthouse is on the market for $32 million, according to StreetEasy. Amenities include a fitness center and pool on the 50th floor, a golf simulator and lounge, and a screening room and performance stage.

Related and Oxford in 2016 paid about $61 million for a ground lease for Dalessandro’s parcel at 503 West 33rd Street. It was one of the final pieces needed for the developers to construct their 58-story office tower at 50 Hudson Yards, set to be completed in 2022. Earlier this month, the developers closed on buying that parcel, property records show.

The land-condo swap is not Related’s first. Ponte Equities, which owned the land under Related’s 70 Vestry Street in Tribeca, bought back a block of apartments at the developer’s luxury tower. Ponte earlier this year closed on 15 units there for about $36.7 million.

Update: This article was updated on Sept. 24 at 5:30 p.m. to include a sixth condominium on the 78th floor that William Dalessandro’s company acquired, a sale that posted to property records after the article published. This article was updated again, on Sept. 25 at 6 p.m., to include a seventh condo sale on the 74th floor, a transaction that also posted to public records after publication. Total square footage and price also were updated to reflect the additions.

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