May 30, 2017
BlackRock has sealed the deal to lease about 847,000 square feet at 50 Hudson Yards, in the giant mixed-use complex on Manhattan’s Far West Side.
Now we know how much BlackRock has agreed to pay to be the anchor tenant of the 58-story tower, scheduled to open in 2022: base payments of $50.8 million a year for the first five years of a 20-year lease, according to BlackRocks latest filings with the Security Exchange Commission.
That works out to roughly $60-per-square-foot per year — not a bad deal for BlackRock. New spaces at Hudson Yards continue to dominate the market for office space in Manhattan.
“We’re proud to have our name on the marquee of our future home, 50 Hudson Yards,” Rob Goldstein, chief operating officer for BlackRock. “The quality of the environment Related and Oxford are creating have made us very excited about putting new roots down in Hudson Yards.”
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