Related Companies and Spitzer Enterprises pay $78M to MTA for air rights in Hudson Yards

Related Companies and Spitzer Enterprises through the entity 451 Tenth Avenue LLC paid the Metropolitan Transportation Authority $77.8 million for 275,000 square feet of transfer development rights for their projects in Hudson Yards on parcels including 517 West 35th Street, 511 West 35th Street, 451 10th Avenue, 506 West 36th Street, 512 West 36th Street. The deal closed on October 8, 2019, and was recorded on October 18, 2019. The transaction consists of 9 parcels, including the tax class land not zoned residential or Manhattan below 110th Street (V1).
The sale price was about $283 per square foot.

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

Clarification: The headline was updated to clarify that the property sold was air rights.