Tishman Speyer Buys Remaining Air Rights Needed For Spiral Tower In Hudson Yards
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The developer purchased 669K SF of air rights from the MTA and Hudson Yards Infrastructure Corp. for The Spiral, its $3.2B office tower that will stretch from West 34th Street to West 35th Street. Tishman Speyer paid $157M, or $235 per SF, for the added density, The Real Deal reports.
With the purchase, Tishman Speyer has compiled a total of 1.23M SF of air rights for a total of $265M, all it needs to complete the tower, the company told TRD. It purchased around 300K SF from the city and state in November 2016, and 235K SF from the Imperatore family a year earlier.
Designed by Bjarke Ingels, the Spiral is planned to stand 1,005 feet tall at 65 stories and total as much as 2.85M SF, with 27K devoted to retail. Pfizer signed on in August to take 800K SF of office space as the building's anchor tenant. The tiered terraces that give the tower its name will function as outdoor amenity space for every floor of the building and a vertical extension of the High Line, which runs right to the building's front door.