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Related Closes in on $2.5B Financing for 50 Hudson Yards Tower

New York-based Related Companies and Oxford Properties Group are reportedly close to securing a $2.5-billion financing package for 50 Hudson Yards, a 2.9-million-square-foot office tower in New York City. The $3.9-billion development cost makes it the most expensive in New York.

The package is said to include an equity investment of nearly $700 million, as well as a senior loan from syndicate banks of $1.8 billion. The equity financing reportedly involves a foreign institutional investor. The five-year construction loan is being arranged by Deutsche Bank, Wells Fargo and Bank of China, with a term sheet expected within weeks.

The 62-story, 985-foot tall skyscraper is located at 33rd Street and 10th Avenue, spans an entire city block and will be New York City’s fourth largest office tower. Construction is slated to start this year, and deliver in 2022. BlackRock has already committed to 850,000 square feet on 15 floors for its corporate HQ.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at Crain's NYConnect With Related Co.'s Hudson Yards

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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