North America

Point72 heads for Hudson Yards

Firm will lease more than 175,000 sq ft over six storeys at 55 Hudson Yards

Point72 Asset Management plans to lease office space in 55 Hudson Yards, the third tower to be built on Related Companies’ development on the west side of Manhattan.

The firm will lease more than 175,000 sq ft over six storeys of the building. It is the third confirmed tenant for the property.

The move will enable Point72 to bring together workforces currently at two separate locations on Madison Avenue and expand its office space in New York by around 20%.

The 55 Hudson Yards site comprises 17m sq ft of commercial and residential space, more than 100 shops and restaurants, around 4,000 residential units, 14 acres of public space, a new 750-pupil school and a 200-room Equinox hotel.

It is being developed by Related Companies, Mitsui Fudosan America and Oxford Properties Group.

Newmark Grubb Knight Frank represented Point72 in the transaction, which is expected to be finalised by the end of the year. CBRE and Related are representing the ownership group.

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