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Related, Oxford Capitalize 70 Hudson Yards with $2.45B in Debt and Equity

Related Companies and Oxford Properties Group have fully capitalized 70 Hudson Yards with $2.45 billion in financing, including a $1.6-billion construction loan fully underwritten, structured and led by Wells Fargo, Bank of America and Standard Chartered, along with equity from institutional investors. When completed, the 1.4-million-square-foot office tower located on Hudson Boulevard and West 35th Street will serve as the new U.S. headquarters for Deloitte, which has leased more than 800,000 square feet.

“New York City is extraordinary in its ability to attract the world’s top talent and, as a result, we are experiencing equally extraordinary demand for Class-A office,” said Jeff T. Blau, CEO of Related Companies. “When industry leaders like Deloitte want to relocate, we are thrilled they look to the dynamic environment and neighborhood we have built here at Hudson Yards.”

Deloitte employees and visitors will enter through a dedicated lobby on Hudson Boulevard. Tenants on the upper floors will have their own entry on 35th Street. Related and Oxford broke ground in July 2025 and move-ins are anticipated in late 2028.

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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).

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