"A tower crane was installed at the 70 Hudson Yards construction site yesterday. The office tower, backed by Related Companies and Oxford Properties, is largely leased, with Deloitte pre-leasing most floors. The building is planned as an all-electric, zero-carbon workplace, with move-ins scheduled for late 2028. Photographers were on hand for the crane's arrival and assembly, and New York YIMBY reports that foundation work has advanced steadily since mid‑December, with crews expecting the structure to reach street level this spring."
"Related Companies and Oxford Properties say they have locked in a $2.45 billion capital stack, including a $1.6 billion construction loan, to carry the build. In a press release, Oxford Properties Group and Related describe the development as a roughly 1.4‑million‑square‑foot tower. They note that Deloitte has committed to more than 800,000 square feet and that leasing for the top floors is slated to begin this year. The sponsors reiterate that initial move‑ins are anticipated in late 2028."
Construction at 70 Hudson Yards advanced with a tower crane installation and steady foundation work expected to reach street level this spring. The project at 514 West 36th Street is planned as a roughly 49-story, approximately 832-foot, 1.4-million-square-foot office tower designed as an all-electric, zero-carbon workplace. Related Companies and Oxford Properties secured a $2.45 billion capital stack, including a $1.6 billion construction loan. Deloitte has committed more than 800,000 square feet with private terraces and dedicated lobbies. Leasing for upper floors is slated to begin this year, and initial move-ins are targeted for late 2028.
#hudson-yards #commercial-real-estate #deloitte-lease #sustainable-buildings #construction-financing
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