KKR Picks Up Hudson Yards Observation Deck for $500M
By Nicholas Rizzi October 20, 2021 1:45 pm
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Investment firm KKR bought a majority stake in the observation deck of 30 Hudson Yards for more than $500 million.
KKR, which also has offices in the tower, paid Related Companies $508.5 million for control of the 1,100-foot-tall deck known as the Edge, Instagram page TraderNY first reported.
In a joint statement, the companies said KKR will use its investment funds to acquire the site and that it “will continue to be managed by the Hudson Yards Experiences team.”
The Edge sits on the 100th floor of the 1,296-foot-tall 30 Hudson Yards and is the highest outdoor sky deck in the Western Hemisphere, according to Related. It opened in March 2020 with tickets ranging from $31 to $38.
This isn’t the first time KKR picked up a piece of 30 Hudson Yards. The firm bought the top 10 floors of the building, totaling 343,000 square feet, and later used it to nab a $490 million fee and leasehold mortgage, as Commercial Observer previously reported.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
