KKR Taking Over 220K-SF Hudson Yards Office Yards Vacated by Meta
By Mark Hallum January 6, 2023 5:19 pm
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Private equity firm KKR is making a major expansion at Related Companies’ 30 Hudson Yards, adding an additional 220,000 square feet to its existing 300,000-square-foot space in the building.
The offices that KKR is taking over are the ones that Facebook parent company meta has announced it would vacate in early December as it re-evaluates its 1.9 million-square-foot office footprint at Hudson Yards, Bloomberg first reported.
Meta planned to spend about $2.9 billion on the exit strategy, which included losing space at 30 and 55 Hudson Yards on a lease that began in 2019 and runs through 2024. A spokesperson for Meta told Commercial Observer in December that it planned to sublease a “small portion” of its former space.
The company may be shoring up loose ends after its Autumn move into the 730,000 square feet it leased in the Farley Post Office in 2020, which corresponded with it vacating 200,000 square feet at 225 Park Avenue South.
And in November, KRR seemed less than bullish on expanding its New York City offices and its headcount, turning away from a deal with Tishman Speyer for 300,000 square feet at Morgan North, a renovated postal facility.
JLL (JLL)’s brokers Joe Mesina and Steven Rotter represented KKR in the transaction. It’s unclear who represented Related.
Related, KKR and JLL declined to comment.
Mark Hallum can be reached at mhallum@commercialobserver.com.
