Lyft Inks Big Lease To Join Peloton In High-Priced Digs Near Hudson Yards
Cove Property Group has locked down another major tenant at its new office building on Manhattan’s Far West Side.
Lyft is taking more than 100K SF at Hudson Commons, a 28-story building at 441 Ninth Ave., at the corner of 34th Street, the landlord announced. The ride-sharing company joins cycling brand Peloton, which inked a deal for 312K SF late last year. The building is now 63% pre-leased and slated to open this summer.
“We saw an opportunity to respect the beautiful 1962 warehouse building’s heritage and add significant square footage above it, rather than tear it down,” Cove Managing Partner Kevin Hoo said. “At Hudson Commons, each floor possesses an individuality created through the combination of size, layout or outdoor space that disrupts the traditional vertical rent/view/experience hierarchy of an office building.”
The original building is eight stories.
Cove joined with The Baupost Group to pay $330M to EmblemHealth for the property in 2016. Cove locked down a $479M construction loan the next year. Kohn Pedersen Fox designed the new building, where asking rents are $90 per SF, according to Commercial Observer.
CBRE’s Stephen Siegel, Evan Haskell, Paul Haskin, James Ackerson and Ben Joseph handle leasing for the building. JLL’s Steven Rotter and Justin Haber brokered the deal for Lyft.