>

>

/

Allianz invests $523 mil in 30 Hudson Yards

By Bong Xin Ying

/ EdgeProp Singapore |

June 19, 2019 2:43 PM SGT

Allianz has invested EUR342 million ($523 million) for a 49% interest in an office condominium in New York’s 30 Hudson Yards office building. This transaction will make New York the fifth most significant city for Allianz Real Estate, globally, in terms of total exposure.

The acquisition, completed by Allianz Real Estate on behalf of several Allianz group insurance companies, follows the purchase of a 44% stake in 10 Hudson Yards, the first tower completed in the Hudson Yards development on Manhattan’s West Side, in mid-2016 for EUR375 million.

The sale-leaseback agreement that Allianz entered is part of a consortium alongside Related Companies and a third-party investor, who have acquired the remainder of the office condominium.

The condominium in 30 Hudson Yards consists of 1,463,234 gross sq ft across 26 floors.

A 2.6 million sq ft tower across 90 floors, 30 Hudson Yards is the second-tallest office building in New York, and has the highest outdoor observation deck in the city. At 1,296 ft tall, the building has river-to-river panoramic views, outdoor terraces, a triple-height lobby, direct access to restaurants and retailers, and a concourse connection to the new No. 7 subway station.

Tags:

Allianz New York

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Novo Place hits 88.1% as 137 units snapped up in second balloting

3

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

4

Is it a Good Deal?: A duplex penthouse in Sentosa sold for a loss of $1.93 million

5

What’s next for Bayshore

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00