Tishman Speyer acquires site for second office tower at Hudson Yards
Firm bought adjacent lots 434-444 11th Ave. and 550 W. 37th St. where it will construct a 1.3 million-square-foot skyscraper
Tishman Speyer has assembled a site in the Hudson Yards aream of Manhattan where it plans to build a second office tower, giving the company more prominence in a section of New York that’s primed for growth.
The development firm acquired 434-444 11th Ave. and 550 W. 37th St., adjacent properties where it intends to construct a 1.3 million-square-foot skyscraper, according to an e-mailed statement Wednesday. The price wasn’t disclosed. Last month, Tishman Speyer unveiled a design by Bjarke Ingelsm for a 2.85 million-square-foot office tower that will have a spiral of landscaped terraces wrapping around its facade.
With the two office projects, Tishman Speyer is raising its profile among builders on the far west side, where the city has extended a subway line and encouraged development to expand the Midtown business district west to the Hudson River. Related Cos. is leading the effort, with its 28-acre Hudson Yards project being built mostly over rail yards. Brookfield Property Partners LP is working on its 7 million-square-foot Manhattan West development, and Moinian Group plans a skyscraper at 3 Hudson Boulevard.
The Hudson Yards area “is rapidly emerging as one of its main engines for further economic growth” in New York, Rob Speyer, Tishman Speyer’s chief executive officer, said in the statement.