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KKR & Co. Acquires 75% Stake In 30 Hudson Yards Commercial Condo For $508.5M

Property Image
SOLD
$508,500,000

New York

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198,898 SF
Sold 10/20/2021
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Property Image
SOLD

KKR & Co. Acquires 75% Stake In 30 Hudson Yards Commercial Condo For $508.5M

30 Hudson Yards, Hudson Yards, New York, NY, USA

See Similar Deals
198,898 SF
Sold 10/20/2021
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Price Per Square Foot:$2,556
Total Square Footage:198,898 SF
Transaction Type:Sale

KKR & Co. has acquired a majority stake in the 30 Hudson Yards observatory deck, known as @EdgeNYC, in a commercial condo sale. The property, located at 30 Hudson Yards, was sold by Stephen Ross and Jeff Blau of Related Companies & Oxford Properties Group. The transaction took place in October 2021 for approximately $508,500,000. KKR purchased a 75% interest in the observatory deck.

Summary of transaction details

  • Property Type: Commercial Condo
  • Transaction Amount: $508,500,000
  • Address: 30 Hudson Yards
  • Market: @HudsonYards
  • Buyer: KKR & Co.
  • Seller: Stephen Ross & Jeff Blau - Related Companies & Oxford Properties Group

Jeff Blau, Stephen Ross, and Henry Kravis were involved in the sale of the 30 Hudson Yards observatory deck. This transaction marks KKR & Co.'s entry into the property, as they acquired a majority stake. The deal represents a significant investment by KKR in the thriving Hudson Yards area.

Players

KKR
KKR
BUYER
KKR
KKR
LENDER

Details

SOLD
IMAGE: Jeff Blau, Stephen Ross & Henry Kravis DATE: 10/2021 ADDRESS: 30 Hudson Yards MARKET: @HudsonYards ASSET TYPE: Commercial Condo BUYER: KKR & Co. SELLER: Stephen Ross & Jeff Blau - Related Companies & Oxford Properties Group VALUE: $508,500,000 (approx.) INTEREST SOLD: 75% (approx.) NOTE: KKR purchased a majority stake in 30 Hudson Yards observatory deck, @EdgeNYC.

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