Mitsui Fudosan breaks ground at $1.4B Hudson Yards tower

Tenants slated to begin moving into 55 Hudson Yards by 2017

55 Hudson Yards (Credit: Kohn Pedersen Fox)
55 Hudson Yards (Credit: Kohn Pedersen Fox)

Mitsui Fudosan broke ground today on its $1.4 billion office tower slated for 55 Hudson Yards, part of the 28-acre megaproject on Manhattan’s West Side. Tenants are expected to begin moving in by 2017, though no leases have been signed for the 51-story, 1.3 million-square-foot tower at 33rd Street and 11th Avenue. Mitsui Fudosan owns a 90 percent stake in the building. The Related Companies and Canadian pension investment firm Oxford Properties are the other owners.

The Japanese development firm paid around $259 million in December for its holding in the property, as The Real Deal reported. Kohn Pedersen Fox designed the structure.

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JPMorgan Chase had eyed the 55 Hudson Yards site as well as another directly to the east as a future home for its headquarters. Negotiations on that deal broke down in the fall, as previously reported. — Mark Maurer