Tishman Speyer can finally move forward with their major Hudson Yards development now that they've settled with two holdout tenants in court. Crain's and the Post report that the two men who shared an apartment in an aging building that was acquired by the developer as part of its $438 million buy last spring settled with the major company for a hefty $25 million with the help of one of the city's most aggressive real estate lawyers. The two men are now living high in the sky on the 44th floor at a luxury building at 560 West 43rd Street called Riverbank West.
Now that the men have vacated their building on 35th Street and Tenth Avenue, Tishman can proceed with developing the 2.3 million square feet of new residential and commercial space they've plotted out for the block-long site at 435 Tenth Avenue and its adjacent site. The development parcel is just one block north of Related's Hudson Yards development, where its last holdouta McDonald'shas finally given in to the developer's demands, awarding Related the last piece of its immense real estate puzzle.
· Developer pays two tenants $25 million to vacate their apartments [Crain's]
· Battling Hudson Yards project got these 2 tenants $25M — and new luxury digs [NYP]
· Huge West Side Site Sells, 1,800-Foot Tower May Come Next [Curbed]
· All Hudson Yards coverage [Curbed]