After two years of negotiations, Related Companies has reached a deal to lease 15 contiguous floors, or 850,000 square feet, to BlackRock, the investment management corporation, at its planned 2.9-million-square-foot, 985-foot-tall office tower 50 Hudson Yards. The building is located along Tenth Avenue, between West 33rd and 34th streets, in the Hudson Yards district.
Foster + Partners is designing the 58-story structure, revealed in these renderings. The deal includes up to $25 million in tax credits for BlackRock, the New York Times reported. Oxford Properties Group is partnered with Related as a co-developer. The site is occupied by a collection of low- to mid-rise properties, all of which have demolition permits in place. New building applications have not been filed at this time, although completion is expected in 2022.