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MTA Closes Two Major Leases For Hudson Yards Site

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TWC News: MTA Closes Two Major Leases For Hudson Yards Site
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The buildings aren't up yet at Hudson Yards, but more giant companies are moving into the newest neighborhood on Manhattan's far West Side.

The Metropolitan Transportation Authority says it closed on the first of two 99-year leases with Related Companies and Oxford Properties Group.

This lease allows Related to develop 26 acres over the Long Island Rail Road tracks between 10th and 12th Avenues and West 30th and 33rd Streets, the same area served by the extended number 7 train.

Excavation and foundation work started in late 2012.

Fashion company Coach already bought 740,000-square-feet in the south tower for its global corporate headquarters.

Its new neighbors will be beauty company L'Oreal and technology company SAP.

Officials say this leaves the south tower with more than 80 percent occupancy.

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