{"id":35618,"date":"2023-04-17T08:57:58","date_gmt":"2023-04-17T05:57:58","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=35618"},"modified":"2025-03-25T16:09:02","modified_gmt":"2025-03-25T13:09:02","slug":"related-secures-new-leases-for-hudson-yards","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/related-secures-new-leases-for-hudson-yards\/","title":{"rendered":"Related Companies Secures Trio of Lease Deals at Hudson Yards"},"content":{"rendered":"

Despite last year\u2019s setback (when Meta announced it would not renew its leases at several Related Companies-owned properties), the real estate developer recently closed on a string of lease deals totaling roughly 77,000 square feet of prime Manhattan office space<\/a> at 50 and 55 Hudson Yards. The new tenants include financial planner J.F. Lehman & Company; international law firm Milbank; and global insurance provider Liberty Mutual.<\/p>\n

The largest agreement was for 29,000 square feet of space on the 23rd<\/sup> floor of 55 Hudson Yards as J.F. Lehman aims to move into Vista\u2019s former offices. Newmark\u2019s\u00a0Brian Goldman and Matthew Lorberbaum represented the tenant, while Stephen Winter\u00a0and\u00a0Elliot Karp handled the deal in-house for Related. The asking price remains undisclosed, but the average asking rent for the neighborhood was\u00a0$128.84 per square foot in the first quarter of 2023, according to\u00a0a report from\u00a0Colliers<\/a>. Like many other companies, J.F. Lehman\u2019s decision to move into the 51-story building was influenced by the post-pandemic flight to quality trend.<\/p>\n

Meanwhile, Milbank \u2014 which has occupied nine floors at 55 Hudson Yards since 2016 \u2014 decided to expand its original deal by another 28,000 square feet to occupy the entire 29th<\/sup> floor. The addition brings the law firm\u2019s total footprint at the property to 315,000 square feet, and the Related building is now fully leased. Cushman & Wakefield\u2019s Dale Schlather and Greg Herman negotiated on behalf of Milbank.<\/p>\n

Finally, following negotiations led by Cresa\u2019s Michael McKenna and Maureen Young, Liberty Mutual took 20,000 square feet on the 65th<\/sup> floor of 50 Hudson Yards. The insurance company is set to join a tenant roster that includes the likes of BlackRock, Truist Financial and Point72 Asset Management.<\/p>\n

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Despite last year\u2019s setback (when Meta announced it would not renew its leases at several Related Companies-owned properties), the real estate developer recently closed on a string of lease deals totaling roughly 77,000 square feet of prime Manhattan office space at 50 and 55 Hudson Yards. The new tenants include financial planner J.F. Lehman &…<\/p>\n","protected":false},"author":56,"featured_media":35619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-35618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nThree New Leases at Related's Hudson Yards | Commercialcafe<\/title>\n<meta name=\"description\" content=\"Related Companies closed on a string of lease deals totaling 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