Fifty Hudson Yards Tops Out

NEW YORK, NY – February 12, 2021 – Related Companies, Mitsui Fudosan America and Oxford Properties Group today announced that 50 Hudson Yards, New York City’s fourth largest office tower and the neighborhood’s largest commercial office building by square footage, has officially topped out. The final beam was hoisted into place earlier this morning. The LEED Gold-designed, 1,011 foot tall, 2.9M gross square foot building is already 75 percent leased. Tenants will include the new corporate headquarters of BlackRock occupying 970,000 square feet and Facebook occupying 1.2M square feet. The building is expected to open on schedule in 2022.

Designed by Foster + Partners, 50 Hudson Yards features “concrete superstructure first” construction which expedites core fit out. The structure contains 117,200 CY of concrete, 26,800 tons of structural steel and 11,460 panels of glass curtain wall. It is the second U.S. construction project to employ the Despe self-climbing cocoon improving worker safety standards and creating much needed perimeter exterior work space as the steel frame was erected.

“The topping out of 50 Hudson Yards, on schedule despite a global pandemic, underscores the incredible construction team who remained committed to robust safety precautions as they redefined the City skyline,” said Bruce A. Beal Jr., President of Related Companies. “New York City has long been one of the world’s centers of innovation and commerce and we know this city’s best days are still ahead, fueled by a new generation of modern office space that will continue to attract the best companies and talent.”

“This milestone would not have been possible without the commitment of hundreds of New York construction workers who have worked tirelessly to ensure this project comes to life despite the unprecedented impact of the pandemic,” commented Dean Shapiro, Head of US Development at Oxford Properties. “It’s up to all of us to build a New York for the future, and we’re proud to be developing a home for some of the world’s most innovative companies at Hudson Yards that will continue to drive the city’s economy.”

50 Hudson Yards will welcome tenants to a new workplace standard with expansive floorplates ideal for large trading floors and other collaborative work environments that are able to accommodate 500+ employees per floor. Floors will offer sweeping views of the Hudson River and City skyline. The building will feature 94 elevators to facilitate seamlessly movement throughout the building.

Located on a full block between Hudson Boulevard and Tenth Avenue between 33rd and 34th Street with direct access to the No. 7 Subway, the amenities-driven building features executive valet parking in a private porte-cochère, dedicated ground level lobbies with two abstract sculptures by acclaimed Artist Frank Stella, communal sky lobbies, outdoor terraces, and more.

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ABOUT RELATED COMPANIES:
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States with over $60 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Formed over 45 years ago, Related is the largest private owner of affordable housing and a fully-integrated, highly diversified industry leader with experience in virtually every aspect of design, development, acquisitions, management, finance, hospitality, sustainability, and sales. Related’s mixed-use, residential and commercial office properties have been consistently heralded for their placemaking vision – bringing together iconic design, arts and culture, dynamic programming, and innovative wellness programs. 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 and London, and boasts a team of approximately 4,000 professionals. Related was named to Fast Company Magazine’s list 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.

ABOUT MITSUI FUDOSAN AMERICA, INC.:
Mitsui Fudosan America, Inc. (MFA) is the U.S. subsidiary of Japan's largest real estate company, Mitsui Fudosan Co., Ltd., a publicly-traded company with approximately $70 billion of assets. MFA is responsible for Mitsui Fudosan's real estate investment and development activities in North America, and is headquartered in New York, with branch offices in Washington, D.C., San Francisco, Los Angeles, and Honolulu. MFA has been active in the United States since the 1970s, and currently owns assets in the New York, Washington D.C., Boston, Denver, Seattle, San Francisco, Los Angeles and Honolulu metropolitan areas. MFA’s U.S. portfolio includes 5.6 million square feet of office space, 6.0 million square feet of office space under development, 1,600 residential apartments, 5,300 additional rental units under development, 350 condominiums and townhomes under development, and 753 hotel rooms.

ABOUT OXFORD PROPERTIES GROUP:
Oxford Properties Group connects people to exceptional places, and is the owner, developer and asset manager of some of the world’s best real estate assets. Established in 1960, it manages approximately C$60 billion of assets across the globe on behalf of its co-owners and investment partners. Oxford’s portfolio encompasses office, retail, industrial, life sciences, hotels and multifamily residential and spans more than 100 million square feet in global gateway cities across four continents. A highly disciplined and thematic investor, Oxford invests in properties, portfolios, development sites, debt, securities and platform opportunities across the risk-reward spectrum. With its global headquarters in Toronto, Oxford operates out of over 15 regional offices including New York, London, Luxembourg, Singapore and Sydney. Its long-term approach to real estate investment aligns Oxford’s interests to its customers and the communities in which it operates. Oxford is owned by OMERS the defined benefit pension plan for Ontario's municipal employees.

CONTACT:

Related Companies
Jon Weinstein
212-801-1000
[email protected]