Tokyo-based Mori Trust has acquired a minority ownership stake in 35 Hudson Yards, the tallest residential tower in the Hudson Yards mixed-use complex on Manhattan’s Far West Side. Mori Trust did not disclose how much it paid for the lower 38 floors of the 92-story property at 500 W. 33rd St. Bloomberg News reported the acquisition price at roughly $540 million.
The lower floors of the $2-billion tower, developed by Related Companies and Oxford Properties, include the 212-key Equinox Hotel along with office and retail space. The property’s upper floors contain for-sale residences.
“Acquiring high-quality properties overseas, such as 35 Hudson Yards, contributes to the stability and sustainability of our asset portfolio and will drive further growth in the future,” said Mori Trust president and CEO Miwako Date in a statement.
The sellers were represented by a Newmark team led by Adam Spies, Doug Harmon and Marcella Fasulo, Bloomberg reported.
The post Mori Trust Acquires Minority Stake in 35 Hudson Yards appeared first on Connect CRE.
