Mitsui Fudosan Buys Stake in $3.6B Hudson Yards Project
ByMajor Japanese real estate developer Mitsui Fudosan has taken a 90 percent stake in the $3.6 billion 50 Hudson Yards in New York, through its subsidiary Mitsui Fudosan America. The 2.8 million-square-foot office skyscaper will be one of the largest standalone office buildings in Manhattan upon completion, which is scheduled for 2022.
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50 Hudson Yards is part of Related Cos. and Oxford Properties Group’s $20 billion Hudson Yards project on Manhattan’s Far West Side, which will be the largest private real estate development in U.S. history. The office tower will have 58 floors above ground and three below, with direct access to the new Hudson Yards subway stop and a park at the building’s entrance. Amenities will include large floor plates, several dedicated lobby areas and a parking garage. Well-known names such as investment management firm BlackRock have already signed on to occupy space in the tower. BlackRock paid $1.25 billion to take up a whopping 847,000 square feet, which will serve as the firm’s new global headquarters…
