L’Oreal and SAP take big spaces at Hudson Yards

Stephen Ross, L'Oreal's Frederic Roze and Hudson Yards
Stephen Ross, L'Oreal's Frederic Roze and Hudson Yards

Related Companies and Oxford Properties Group have signed on beauty giant L’Oreal and enterprise software bigwig SAP as anchor tenants for the South Tower at the Hudson Yards megaproject, the developers announced today. The deals will result in L’Oreal and SAP joining anchor tenant Coach in the building, which is now over 80 percent leased. 

L’Oreal has leased 402,000 square feet for its U.S. headquarters, and SAP has taken 115,000 square feet on the four top floors of the 1.7 million-square-foot building, according to the release.

“We are thrilled that global beauty and software powerhouses L’Oréal and SAP, along with Coach, Inc., will be locating at Hudson Yards,” said Related Companies Chairman Stephen Ross.

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“World-class office space like the towers Related and Oxford are building will help keep New York City competitive in the global economy,” said Mayor Michael Bloomberg. “These commitments from leading corporations [such as] L’Oréal USA, SAP and Coach represent an important vote of confidence in our city’s future.”

“The Hudson Yards development is at the core of a pioneering new neighborhood and L’Oréal USA is proud to be part of it,” said Frédéric Rozé, President and CEO of L’Oréal USA.

“In establishing a single flagship New York location, our only goal was to find the city’s most innovative development,” said SAP’s co-CEO, Bill McDermott. –Hiten Samtani