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A full moon rose behind The Edge last night as Hudson Yards closed a deal with investment firm KKR for a majority stake in the vertigo-inducing observation deck. Related Companies must be over the moon, if you will, as the 1,100-foot-tall deck (well, 75% of it) sold for the sky-high sum of $508.5 million.
The Edge is on the 100th floor of 30 Hudson Yards, a building where KKR already owns 343,000 square feet across the top 10 floors for its office headquarters. According to Related, the observation deck is the highest in the Western Hemisphere. The triangular deck spans a total of 7,500 square feet, with the famous glass-bottom portion measuring 200 square feet. The deal was first reported by Instagram account @tradedny.
The Edge first opened in March 2020 and though tourism has been down overall, KKR is taking a bet that, with borders opening next month, those numbers will soon tick upward. In a joint statement announcing the sale, the companies said Hudson Yards would continue managing the space.
The deal coincides with the opening today (Thursday) of Summit One Vanderbilt — which offers a reflective panoramic view of New York from 42nd Street next to Grand Central Terminal.
The Edge has always pushed boundaries — literally, as the glass panels that enclose it give you unobstructed views of the city below — and it continues to do so with its price tag. At more than $500 million, it far surpasses even the priciest penthouses that rise to similar heights.
Money talks. Thank you for posting the 3 faces of Related’s GREED!!!