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Mori Trust Acquires Minority Stake in 35 Hudson Yards

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. Eastdil Secured’s Jeff Davis advised on the sale of the Equinox Hotel.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition