{"id":496283,"date":"2026-01-06T10:38:34","date_gmt":"2026-01-06T10:38:34","guid":{"rendered":"https:\/\/www.europesays.com\/us\/496283\/"},"modified":"2026-01-06T10:38:34","modified_gmt":"2026-01-06T10:38:34","slug":"related-oxford-score-1-6b-construction-loan-for-deloittes-hudson-yards-hq","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/496283\/","title":{"rendered":"Related, Oxford Score $1.6B Construction Loan For Deloitte’s Hudson Yards HQ"},"content":{"rendered":"

Related Cos.<\/a>\u00a0and\u00a0Oxford Properties Group<\/a>\u00a0have\u00a0put together a $2.45B\u00a0capital stack for\u00a0its latest office tower in\u00a0Hudson Yards<\/a>.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of Related Cos.\n <\/p>\n

\n A rendering of 70 Hudson Yards\n <\/p>\n

The development team has landed a $1.6B construction loan for\u00a070 Hudson Yards<\/a>, a 72-story skyscraper that will be anchored by\u00a0Deloitte<\/a>,\u00a0Related and Oxford\u00a0announced.\u00a0Wells Fargo<\/a>,\u00a0Bank of America<\/a>\u00a0and Standard Chartered\u00a0PLC underwrote and structured the financing.\u00a0<\/p>\n

Additionally, the duo behind the largest private mixed-used development in U.S. history has lined up more institutional equity investors for the 1.4M SF Manhattan office building, which is the largest ground-up office building to start construction in the U.S. since the pandemic.<\/p>\n

The tower is already under construction with foundations nearing\u00a0completion and tenants expected to move in in late 2028. Deloitte has committed to\u00a0take 800K SF<\/a>\u00a0for its North America headquarters. It currently occupies approximately 500K SF in\u00a0Rockefeller Center<\/a>.<\/p>\n

As part of its lease, Deloitte will have its own lobby on Hudson Boulevard.\u00a0Leasing for the top floors will commence this year, and those tenants will have a separate entrance on 35th Street.<\/p>\n

Designed by\u00a0Gensler and Roger Ferris + Partners, 70 Hudson Yards is projected to be New York’s first all-electric, carbon-neutral office building.<\/p>\n

When\u00a0Related<\/a>\u00a0broke ground on the project in July, it was expected to be 47 stories, but\u00a0plans were expanded<\/a>\u00a0to accommodate the return of leasing demand. Inventory of prime office space in particular has been depleted, with the city’s vacancy rate falling below 15% in the third quarter, the lowest since before the pandemic, according to\u00a0JLL<\/a>.<\/p>\n

The financing deal “demonstrates the growing global demand from sophisticated investors and lenders of capital into first class office product,” Oxford\u00a0Global Head of Development\u00a0Dean Shapiro said in a statement.\u00a0<\/p>\n

70 Hudson Yards is the largest ground-up office project to actually break ground since the pandemic. Many more are on the way\u00a0in\u00a0New York City.\u00a0<\/p>\n

BXP<\/a>\u00a0started construction\u00a0on 343 Madison Ave., its $2B, 46-story office next to Grand Central,\u00a0in July<\/a>. The developer, formerly known as Boston Properties, is also developing an office project in D.C., which is set to be anchored by law firm Sidley Austin,\u00a0Bisnow\u00a0first reported<\/a>.<\/p>\n

Ken Griffin<\/a>, in partnership with\u00a0Vornado Realty Trust<\/a>\u00a0and\u00a0Rudin Management<\/a>, is moving forward with a\u00a01.8M SF office<\/a>\u00a0at 350 Park Ave. near\u00a0JPMorgan Chase<\/a>\u2019s newly opened global headquarters at 270 Park Ave.<\/p>\n

At 570\u00a0Fifth Ave.,\u00a0Extell Development<\/a>\u00a0is planning a\u00a0full-block office supertall<\/a>\u00a0anchored by Manhattan’s first Ikea. The company\u2019s mixed-use development at\u00a0655 Madison Ave.<\/a>\u00a0is also expected to have offices, along with residential and retail space.<\/p>\n

Also on Madison Avenue,\u00a0SL Green Realty<\/a>\u00a0has proposed a\u00a041-story office skyscraper<\/a>\u00a0at 346 Madison Ave., replacing the former Brooks Brothers store it acquired last year for $160M.<\/p>\n","protected":false},"excerpt":{"rendered":"Related Cos.\u00a0and\u00a0Oxford Properties Group\u00a0have\u00a0put together a $2.45B\u00a0capital stack for\u00a0its latest office tower in\u00a0Hudson Yards. Courtesy of Related Cos.…\n","protected":false},"author":3,"featured_media":496284,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[111764,5229,21866,35328,146892,405,403,5226,5225,5228,5227,111758,18486,111760,223247,67,586,132,5230,68,2969,13241],"class_list":{"0":"post-496283","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-70-hudson-yards","9":"tag-america","10":"tag-bank-of-america","11":"tag-deloitte","12":"tag-hudson-yards","13":"tag-new-york","14":"tag-new-york-city","15":"tag-newyork","16":"tag-newyorkcity","17":"tag-ny","18":"tag-nyc","19":"tag-oxford-properties-group","20":"tag-related","21":"tag-related-cos","22":"tag-standard-chartered-plc","23":"tag-united-states","24":"tag-united-states-of-america","25":"tag-unitedstates","26":"tag-unitedstatesofamerica","27":"tag-us","28":"tag-usa","29":"tag-wells-fargo"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115847725408765761","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/496283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=496283"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/496283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/496284"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=496283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=496283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=496283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}