Debevoise & Plimpton is close to signing a 450,000 SF lease at 50 Hudson Yards, according to Crain’s. The law firm is the second large tenant to commit to space at Related’s 2.9 million SF office tower.
Worth Noting: Blackrock agreed to anchor the property in 2017 with an 847,000 SF lease. That deal was worth a total of $1.3 billion over its 20-year term. Related hopes to complete the office tower by 2022.
Be Smart: Japanese developer Mitsui Fudosan took a 90 percent stake in the project in 2017. The cost of the entire development has been pegged at $3.8 billion.