KKR’s massive footprint at Related Companies’ 30 Hudson Yards is about to get a lot bigger.
The private equity firm is taking another 220,000 square feet set to be left behind by Facebook parent Meta Platforms, sources familiar with the deal confirmed to The Real Deal. The lease was first reported by Bloomberg.
KKR already occupies more than 300,000 square feet on 30 Hudson Yards’ top 10 floors and in 2021 bought a majority stake in the tower’s observation deck, called Edge, for over $500 million.
JLL’s Joe Messina and Steven Rotter represented KKR in the deal, which was negotiated directly with Related.
Meta, which is focused on downsizing its office space across the country, opted last year not to renew its leases at Related’s 30 and 55 Hudson Yards, which combined for roughly 250,000 square feet and ran through 2024.
Meta executives disclosed in October plans to spend $3 billion consolidating the firm’s office footprint, including by terminating leases ahead of schedule. The company spent $413 million terminating office leases in the third quarter, including at Orda Management’s 225 Park Avenue South. At the time, the company expected to spend another $900 million on office realignment in the fourth quarter.
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