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Related Nabs $1.3B for Hudson Yards

NEW YORK CITY—The funding supports 15 Hudson Yards, the first residential tower at the expansive mixed-use development.

By Rayna Katz | Updated on November 24, 2015

NEW YORK CITY—Related Cos. and Oxford Properties Group have announced the closing of $1.3 billion in financing to fund 15 Hudson Yards, the first residential tower at the 28-acre mixed-use development on Manhattan’s West Side. Now under construction, the 960,000-square-foot building contains both rental and condominium apartments. The  building will be complete in 2018 and sales are expected to launch in mid-2016.

Says Jeff Blau, CEO of Related Companies, “Hudson Yards is transforming the west side of Manhattan and this latest transaction represents a continued show of confidence from elite investors and lenders. We have already attracted business leaders in finance, fashion, beauty, consulting, law, tech and media to Hudson Yards; and in just a few short years we will welcome our first residents to the new neighborhood.”

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