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NEW YORK CITY—Asset management giant BlackRock is poised to move its global headquarters to the Hudson Yards complex. Related Cos. and Oxford Properties Group said Thursday that BlackRock has entered into a letter of intent to lease 850,000 square feet across 15 floors at 50 Hudson Yards, the 58-story office tower for which Related and Oxford also unveiled plans on Thursday.
“BlackRock is one of the world's most trusted investment firms and known for its forward-thinking leadership team,” says Jeff T. Blau, CEO of Related. “Their decision to relocate after nearly three decades on and around Park Avenue is another strong vote of confidence in our collective vision for Manhattan's West Side. They will join an unprecedented collection of global influencers in media, fashion, beauty, tech, law and finance at Hudson Yards.”
The 2.9-million-square-foot 50 Hudson Yards is scheduled to begin construction in 2017, with a design by Foster + Partners. With column-free floorplates of 50,000 square feet or more, the tower has been designed to accommodate large enterprise tenants and trading and amenity spaces as well as smaller companies and organizations.
Norman Foster, executive chairman and founder of Foster + Partners, calls the 985-foot tower “a key part of a larger vision that integrates places to live and work within a dense, walkable urban neighborhood. Covering a full city block, the building is highly permeable at ground level, allowing it to engage fully with its urban location. Designed for a sustainable future, the building makes an important contribution to the regeneration of the Far West Side of Manhattan.”
A JLL team of Peter Riguardi, Kenneth Siegel, Matthew Astrachan and Joseph Messina is representing BlackRock in the headquarters lease. Stephen Winter of Related represents the ownership group. When BlackRock moves into its new space, the company's employees will have their own dedicated elevator entrance off of Tenth Avenue.
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“BlackRock is one of the world's most trusted investment firms and known for its forward-thinking leadership team,” says Jeff T. Blau, CEO of Related. “Their decision to relocate after nearly three decades on and around Park Avenue is another strong vote of confidence in our collective vision for Manhattan's West Side. They will join an unprecedented collection of global influencers in media, fashion, beauty, tech, law and finance at Hudson Yards.”
The 2.9-million-square-foot 50 Hudson Yards is scheduled to begin construction in 2017, with a design by Foster + Partners. With column-free floorplates of 50,000 square feet or more, the tower has been designed to accommodate large enterprise tenants and trading and amenity spaces as well as smaller companies and organizations.
Norman Foster, executive chairman and founder of Foster + Partners, calls the 985-foot tower “a key part of a larger vision that integrates places to live and work within a dense, walkable urban neighborhood. Covering a full city block, the building is highly permeable at ground level, allowing it to engage fully with its urban location. Designed for a sustainable future, the building makes an important contribution to the regeneration of the Far West Side of Manhattan.”
A JLL team of Peter Riguardi, Kenneth Siegel, Matthew Astrachan and Joseph Messina is representing BlackRock in the headquarters lease. Stephen Winter of Related represents the ownership group. When BlackRock moves into its new space, the company's employees will have their own dedicated elevator entrance off of Tenth Avenue.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
