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BXP Partners with Moinian on Far West Side Tower
Boston Properties (BXP) is partnering with The Moinian Group on the latter’s 3 Hudson Blvd., acquiring a minority interest in the two-million-square-foot office tower under development on Manhattan’s Far West Side. Terms were not disclosed; the agreement entails BXP becoming managing partner of the new partnership.
“3 Hudson Boulevard is clearly one of the most exciting large office sites in Manhattan, and, with foundations in place, we expect it will be ready for vertical construction for an anchor tenant in the second quarter of 2019, with occupancy in the first half of 2023,” said BXP EVP John Powers.
Added Moinian Group CEO Joseph Moinian, “BXP shares our commitment to tenant-landlord relationships and industry-leading building management, making them a perfect partner on this important project.”
JLL facilitated the capital transaction and will be the leasing agent for the newly formed project led by Peter Riguardi, president of the New York Region.
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