The Related Cos. is considering selling a stake in its 10 Hudson Yards office tower now that the building is almost fully leased.
The developer in discussions with Boston Consulting Group that would see the Midtown-based firm take about 175,000 square feet at 10 Hudson Yards, which would boost the building to near full occupancy before its scheduled completion early next year.
A stake sale would allow Related and equity partner Oxford Properties Group to capitalize on the building’s value and provide funds to finance further construction at the 28-acre, $20 billion development, according to Bloomberg.
BCG would join fashion company Coach, cosmetics and beauty company L’Oreal and software firm SAP SE at 10 Hudson Yards. BCG was reportedly mulling a lease for roughly 200,000 square feet at another of the development’s office towers, 30 Hudson Yards. [Bloomberg News] – Rey Mashayekhi