Related signs $1.37B refi with Wells, Deutsche, Goldman, Morgan Stanley for 10 Hudson Yards

Related Companies and partner Oxford Properties Group through the entity Legacy Yards Tenant LP as borrower signed a refi loan with lender Wells Fargo, Deutsche Bank, Goldman Sachs, and Morgan Stanley valued at $1.37 billion for the office building (O4) at 10 Hudson Yards, also known as 501 West 30th Street in Hudson Yards, Manhattan.
The deal closed on June 5, 2026 and was recorded on June 16, 2026. The prior lender was a trust Hudson Yards 2016-10HY  as serviced by Trimont which held debt that had an original loan amount of $900 million. The property has 1,835,464 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $746 per the PincusCo analysis. (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 owner bought the property on May 31, 2022, for $870 million. The signatory for Related Companies  and Oxford Properties Group was Andrew Rosen . The signatory for Wells Fargo , Deutsche Bank , Goldman Sachs , and Morgan Stanley was John G. Nicol , David Goodman , Brandon Atkins , Rachel Burstiner, and Jane Lam .

Crain’s New York reported on the deal in May.

Prior sales, articles and revenue

The 1,835,464-square-foot property generated revenue of $160.3 million or $87 per square foot, according to the most recent income and expense figures.
Crain’s reported on May 29, 2026 that Oxford Properties Group and Related Companies borrowed $1.4 billion from Wells Fargo and Goldman Sachs for 10 Hudson Yards, Manhattan, NY.

The property

The office building in Hudson Yards has 1,835,464 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 416 feet and is 192 feet deep with a total lot size of 79,943 square feet. The zoning is C6-4 which allows for up to 10 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $846.3 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $4,600 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on May 16, 2016. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Hudson Yards, The majority, or 59 percent of the 16.8 million square feet of commercial built space are office buildings, with elevator buildings next occupying 22 percent of the space. In sales, Hudson Yards has 2.3 times the average sales volume among other neighborhoods with $800.5 million in sales volume in the last two years and is the 15th highest in Manhattan. For development, Hudson Yards has 2.1 times the average amount of major developments relative to other neighborhoods and is the 12th highest in Manhattan. It had 3.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 20 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the nine commercial properties representing 1,835,464 square feet of the 1,842,264 square feet. The two identified owners are Related Companies and Mta.
On the tax block, there were two new building construction projects totaling 870,267 square feet. The largest is a 356-unit, 870,266 square-foot residential (R-2) building submitted by Related Companies and filed by Lotfalla Emad with plans filed January 23, 2015 and permitted June 20, 2016. The second largest is a one square-foot assembly (A-5) building submitted by Emad Lotfalla with plans filed October 27, 2016 and permitted December 13, 2016.

The majority, or 100 percent of the 1.8 million square feet of built space are office buildings, with specialty buildings next occupying 0 percent of the space.

The borrower

The PincusCo database currently indicates that Related Companies owned at least 143 commercial properties with 11,443 residential units in New York City with 27,686,305 square feet and a PincusCo-determined asset value of $21.4 billion. The portfolio has $7.9 billion in debt, with top three lenders as Wells Fargo, Wells Fargo, and Deutsche Bank respectively. Within the portfolio, the bulk, or 28 percent of the 27,686,305 square feet of built space are condo properties, with elevator properties next occupying 25 percent of the space. The bulk, or 75 percent of the built space, is in Manhattan, with Queens next at 11 percent of the space.

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