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WSJ: KKR, Wells Fargo Eyeing More Space at Hudson Yards

Although overall office demand in New York City and other major cities remains sluggish, KKR and Wells Fargo are looking to add more office space at Hudson Yards, the Wall Street Journal reported Tuesday.  

KKR already owns the top 10 office floors of 30 Hudson Yards as office condominiums it acquired in 2019, and paid more than $500 million for a majority stake in the observation deck at the top of the building in October. Wells Fargo already occupies 500,000 square feet at 30 Hudson Yards, the mega-development’s flagship office tower. 

The WSJ reported that the additions are likely seen as a way to incentivize remote workers to return to work in these new-construction office spaces, with amenities including outdoor terraces, game rooms and superior ventilation systems. 

Meanwhile, Related Cos. continues to search for a flagship retail tenant at the complex, following Neiman Marcus’ departure last year. 

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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 13-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 15-20 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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