The firm is considering sites at the Hudson Yards development on the far West Side, neighboring Manhattan West and the World Trade Center development in lower Manhattan,
Its selection process is still under way, though a decision could come as soon as later this year
On price, the average asking rent for top office space at the World Trade Center was about $75 a square foot at the end of June, according to JLL, while the average asking rent for high-end office space in midtown, home to Hudson Yards and Manhattan West, was about $81 a square foot.
As part of its search, BlackRock took a preliminary look at SL Green Realty Corp. ’s One Vanderbilt, a planned skyscraper set to rise above Grand Central Terminal, according to people familiar with the matter, but is no longer pursuing that option.
One of the contenders the firm is considering offers office space as well as a potential investment opportunity. Hudson Yards, developed by Related Cos. and Oxford Properties Group, has allowed some tenants to take a stake in the buildings they occupy.
KKR & Co. and Time Warner Inc. are among the companies that have purchased their office space at 30 Hudson Yards. Coach Inc., the first tenant to move into 10 Hudson Yards, is paying $530 million for its 738,000-square-foot portion of the tower and an additional $220 million to build out the space..