Affordable units at Related Companies 15 Hudson Yards valued at $169K on average, according to analysis of city record

Related Companies through the entity South Residential Tower Affordable, L.P. signed a 75-year sublease with an affiliated Related entity, ERY South Residential Tower LLC. City records valued the sublease at $18.1 million for the 107 affordable inits at 15 Hudson Yards at 553 West 30th Street in Hudson Yards. The sublease was signed on December 18, the memorandum of sublease on December 24, 2019, and the document was recorded on January 13, 2020. The transaction consists of 1 parcel, including the tax class commercial condo recorded in Acris (CC) and containing 107 residential units. The property is 106,692 square feet.
The sale price per unit is $168,926. The transaction is a sublease because Related is the ground tenant under a long-term ground lease with landlord Metropolitan Transportation Authority.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link