Kuwait Investment Authority Acquires Development Site In Hudson Yards For $412.6M From Jeff T. Blau
514 West 36th Street
$412,600,000
Building Size
—
Asset Type
Development Site
Closing
Dec 23, 2025
AI
The transaction involves a development site located at 514 West 36th Street in Hudson Yards, Manhattan. The asset was sold for a total of $412,600,000. The property is part of a larger development project consisting of a planned 1.4-million-square-foot office tower at 70 Hudson Yards.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $412,600,000
- Buyer: Kuwait Investment Authority
- Seller: Jeff T. Blau - Related Companies & Oxford Properties Group
- Closing Date: December 23, 2025
The Kuwait Investment Authority acquired a significant stake through this transaction, contributing to the ongoing development efforts of Related Companies and Oxford Properties Group at Hudson Yards. Jeff T. Blau represents Related Companies in this deal, highlighting the collaborative nature of large-scale developments in urban areas.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93