KKR buys 75% stake in $508.5M 30 Hudson Yards observatory condo from Related, Oxford
30 Hudson Yards at 500 West 33rd Street (Credit: Google)
Kohlberg Kravis Roberts & Co. through the entity KRE Hyod Owner LLC acquired an interest from Related Companies and Oxford Properties Group through the entity Ery North Tower Ob Deck Member LLC valued at $508.5 million for the office and observatory condominium unit (CC) at the top of 30 Hudson Yards in Chelsea, Manhattan.
The deal closed on September 30, 2021 and was recorded on October 18, 2021.
The condo unit has 84,916 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $5,988 per the PincusCo analysis. The condo also has 8,440 square feet of outdoor space. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.) The transaction included $9.96 million in city transfer taxes and $2.5 million in state taxes.
(121186251)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on August 28, 2018.
KKR owns two others office condo units in the tower. It borrowed $490 million in 2019 secured by its interests in those other condo units in the building, known as PE1 and PE2.
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