Related Cos. and Oxford Properties Group have sold the Equinox hotel, office and retail space at the 35 Hudson Yards tower in New York for a reported $541 million to Japan’s Mori Trust.
Mori Trust, through its U.S. subsidiary, Mori America, purchased the first to 38th floors of the, 490,128 square feet of the 1 million square foot building’s floor area, with condos on floors 53 to 92 excluded from the deal.
It is Mori's 12th real estate investment in the U.s. and its second in Manhattan.
"Within Japan, we focus not only on owning and operating diverse office buildings but also on developing and operating hotels in collaboration with foreign luxury brands," Miwako Date, president and CEO of Mori Trust, said in a statement. "Acquiring high-quality properties overseas, such as 35 Hudson Yards, contributes to the stability and sustainability of our asset portfolio and will drive further growth in the future.
"Going forward, we will operate 35 Hudson Yards, an iconic building representing Manhattan, as an even more attractive property."
This comes on the heels of Equinox's planned Caribbean expansion with the Equinox Resort Anguilla Port Nimara.