First Hudson Yards Tower, 10 Hudson Yards, Tops Out

NEW YORK, NY – October 7, 2015 – Related Companies, Oxford Properties Group and Tutor Perini today announced the topping out of 10 Hudson Yards, the future home of Coach Inc., L’Oréal USA, SAP and VaynerMedia. Ten Hudson Yards is already 85% committed and one of five commercial towers planned for the 28-acre Hudson Yards development. It will officially open its doors and welcome tenants early next year.

The topping out of 10 Hudson Yards is a major milestone for the new neighborhood and New York City. The day was marked with the raising of the last batch of concrete to the top of the building and a lunchtime celebration with thousands of construction workers. The tower, designed by Kohn Pedersen Fox Associates, is located on 30th Street and 10th Avenue and offers direct connections to the one million square foot retail center, featuring New York’s first Neiman Marcus, and the 6-acre public plaza. Ten Hudson Yards will bridge over the High Line creating a dramatic sixty foot public passageway along Coach, Inc.’s office entryway.

“The topping out of 10 Hudson Yards marks a major milestone in the development of New York’s next great neighborhood,” said Stephen M. Ross, Chairman of Related Companies. “The caliber of tenants the building and Hudson Yards have attracted is a testament to the vibrant mixed-use neighborhood we are creating and the unrelenting spirit of New York. With 10 million square feet already under construction, we are well underway in forever changing New York’s skyline and creating a vibrant new 24-7 community on the west side. We are thrilled to celebrate the incredible work and complex coordination undertaken and achieved by our development team, talented construction craftsman, engineers, planners and design partners. We look forward to welcoming our first tenants next year and opening the entire eastern rail yard in 2019.”

“Projects that change the face of a city take passionate, committed teamwork to succeed,” said Blake Hutcheson, CEO of Oxford Properties Group. “As we top out the office tower at 10 Hudson Yards, we join with our partners in celebrating the impressive teamwork that has brought us to this historical point.”

Construction on the 1.7 million square foot building began in December 2012. Ten Hudson Yards is one of the only commercial towers in New York City built largely out of concrete. Consisting of a concrete shear wall and concrete superstructure, concrete will account for ninety-eight percent of the tower’s total weight – enough concrete to fill 572 New York City subway cars. Ten Hudson Yards will also be New York’s most energy-efficient Class A office tower and is set to achieve LEED Platinum certification from the U.S. Green Building Council.

Hudson Yards will include 17 million square feet of commercial and residential space, more than 100 shops and restaurants, including New York City’s first Neiman Marcus and a new restaurant by famed chef Thomas Keller, approximately 5,000 residences, a unique cultural space, 14-acres of public open space, a new 750-seat public school and a 200-room Equinox® branded luxury hotel – all offering unparalleled amenities for residents, employees and guests. Thirty Hudson Yards will be home to Time Warner Inc., consolidating HBO, CNN, Turner Broadcasting and the Warner Brothers divisions under one roof for the first time. Boies, Schiller & Flexner is moving its New York City offices to 55 Hudson Yards.

The development of Hudson Yards will create more than 23,000 construction jobs, and when completed in 2024, more than 125,000 people a day will work in, visit or call Hudson Yards their home. For more information on Hudson Yards please visit www.HudsonYardsNewYork.com.

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ABOUT RELATED COMPANIES:

Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London, São Paulo and Shanghai and boasts a team of approximately 3,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $20 billion, is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach. Related also manages approximately $3 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices. For more information about Related Companies please visit www.related.com

ABOUT OXFORD PROPERTIES GROUP:

Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,700 employees and over $34 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company's portfolio includes approximately 56 million square feet of office, retail, industrial, multi-family and hotel properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information, please visit www.oxfordproperties.com.

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CONTACT:

Related Companies:
Joanna Rose
212-801-3902
[email protected]
[email protected]