Related Cos., Oxford Properties Close on $1.3B in Financing for 15 Hudson Yards

by Amy Works

NEW YORK CITY — Related Companies and Oxford Properties Group have closed on $1.3 billion in financing to fund 15 Hudson Yards, the first residential tower at the 28-acre Hudson Yards mixed-use development on Manhattan’s West Side.
Already under construction, the building contains both rental and condominium apartments. The 960,000-square-foot building will be completed in 2018, and sales are expected to begin in mid-2016.
Designed by Diller Scofidio + Renfro and Rockwell Group to obtain LEED Gold certification, 15 Hudson Yards will be 910 feet tall and will include 285 for-sale residences throughout its 70 stories, as well as 106 rental units. The property will offer unobstructed views of the city and Hudson River.
Hudson Yards is being developed by Related Cos. and Oxford Properties Group and will include 17 million square feet of commercial and residential space, more than 100 shops and restaurants, including the first Neiman Marcus in New York City, approximately 5,000 residences, 14 acres of public open space, a new 750-seat public school and a 200-room, Equinox-branded luxury hotel.
15 Hudson Yards will have frontage on the newly created plaza at the center of Hudson Yards and is also adjacent to the High Line and directly connected to the Culture Shed, a multi-purpose venue that will host art, design and special events, including New York’s Fashion Week.
Hudson Yards will also serve as the corporate home to Boies, Schiller & Flexner; The Boston Consulting Group; Coach Inc.; global investment firm KKR; L’Oréal USA; German software engineering firm SAP; Time Warner Inc.; and VaynerMedia.
When the development is completed in 2024, more than 125,000 people a day will visit, work in, or live in Hudson Yards.

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