Tishman Speyer Drops $185M on Hudson Yards Development Site
Tishman Speyer, owner of such prominent trophy buildings as Rockefeller Center and the Chrysler Building, has nabbed a $185M Hudson Yards development site from the Imperatore family. This officially makes the real estate company the third major developer at Hudson Yards, trailing Related Cos and Brookfield Properties. The 11th Avenue site sits between West 36th and West 37th streets, and can accommodate about 735k SF of mixed-use property, Crain's New York reports. Tishman could acquire additional air rights for potentially 1.7M SF. It initially won the bid to develop the yards in 2008, but backed out during the recession. It returned last year, spending $430M on a 10th Avenue site between West 34th and West 35th streets, where it plans to spend more than $3B developing 3M SF of office space. Major office tenants already signed onto Hudson Yards include Coach, Time Warner, Skadden Arps, and most recently, law firm Boies, Schiller & Flexner. [CNY]
