Assets
Office · New York

70 Hudson Yards (Deloitte US headquarters tower)

—, New York
Verified
Current value
$2.45B
▲ 0.0% 1-yr (modeled)
Cap rate
5.00%
▼ 0 bps vs 5.00% submarket
NOI · derived
$122.5M
Value $/SF
$1,750
$1.97B$2.10B$2.24B$2.37B$2.50B2019202020212022202320242026
sourcedmodeled1 of 7 sourced

Ownership & debt

Ownership graph

Asset → owner → parent → beneficial owner · every edge sourced

Ownership transparency

Recorded chain
Recorded owners
Joint venture of Related Companies and Oxford Properties Group
Fee simple
Related Companies
US-NY · Limited Partnership · Equity interest
Oxford Properties Group (OMERS)
Equity interest
Ultimate beneficial owner — as recorded
Related Companies / Oxford Properties Group
Beneficial interest
Oxford Properties Group is the real estate arm of OMERS (Ontario Municipal Employees Retirement System); Related Companies is privately held (Stephen Ross)
Beneficial interest
Corporate structures from GLEIF LEI Level-1/Level-2 data (CC0, golden copy 2026-07-26). Methodology

Debt

Wells Fargo, Bank of America and Standard Chartered (lead arrangers)
Construction loan (part of $2.45B total capitalization; described as largest NYC construction loan since 2020)
$1.60B
LTV
65.31%
Debt yield
7.66%
Securitized debt — SEC loan tape
No SEC ABS-EE loan-level filing is matched to this asset. Public loan tapes exist only for SEC-registered CMBS — most large-asset debt is 144A-private, balance-sheet or agency financed and files none.

Financials

Modeled from sourced NOI, debt & rent inputs
Current cash-on-cash
14.41%

Tenants & leasing

Deloitte (~800,000 sf; new US headquarters anchor tenant, relocating from 30 Rockefeller Plaza; largest NYC tenant relocation since 2020)
Per-tenant lease detail arrives with disclosed stacking plans.

Underwriting

Assumptions — user inputs, not sourced data: 5-year hold · exit cap +25 bps vs today · 3.0% NOI growth per year.
Assumptions — user inputs, not sourced data
Hold period
Exit cap vs today
+25 bps
NOI growth / yr
3.0%
Unlevered IRR
7.2%
Levered IRR
19.7%
Equity multiple
2.09×
Exit cap
5.25%
Exit value
$2.70B
Exit NOI
$142.0M
Levered IRR sensitivity — exit cap Δ × NOI growth
Exit Δ2.0%2.5%3.0%3.5%4.0%
-25 bps21.3%22.4%23.5%24.6%25.7%
0 bps19.3%20.4%21.6%22.7%23.8%
+25 bps17.3%18.5%19.7%20.8%21.9%
+50 bps15.4%16.6%17.8%19.0%20.1%
+75 bps13.5%14.7%16.0%17.2%18.3%
Modeled output — not investment advice. Derived from the assumptions above, not sourced claims.

Provenance footnotes

  1. Current value: Single source — Related Companies / Oxford Properties (press release) · https://www.related.com/press-releases/2026-01-05/related-companies-and-oxford-properties-group-complete-full-245-billion · observed 2026
  2. Cap rate: Estimated — no sourced claim on file.
  3. NOI: Estimated — no sourced claim on file.
  4. $/SF: Estimated — no sourced claim on file.
  5. GLA: Estimated — no sourced claim on file.
  6. Ownership — Joint venture of Related Companies and Oxford Properties Group: Single source — related.com · https://www.related.com/press-releases/2026-01-05/related-companies-and-oxford-properties-group-complete-full-245-billion
  7. Ownership — Related Companies: Single source — related.com · https://www.related.com/press-releases/2026-01-05/related-companies-and-oxford-properties-group-complete-full-245-billion
  8. Ownership — Oxford Properties Group (OMERS): Single source — related.com · https://www.related.com/press-releases/2026-01-05/related-companies-and-oxford-properties-group-complete-full-245-billion
  9. Debt — Wells Fargo, Bank of America and Standard Chartered (lead arrangers): Single source — commercialobserver.com · https://commercialobserver.com/2026/01/related-oxford0-deloitte-hudson-yards/
  10. Tenant — Deloitte (~800,000 sf; new US headquarters anchor tenant, relocating from 30 Rockefeller Plaza; largest NYC tenant relocation since 2020): Single source — commercialobserver.com · https://commercialobserver.com/2026/01/related-oxford0-deloitte-hudson-yards/

Modeled figures — LTV, debt yield, DSCR, cash-on-cash, occupancy, WALT, tenant concentration and every underwriting output are derived arithmetic, not sourced claims. Underwriting outputs follow the assumptions printed in the panel — user-editable inputs, not observations. Not investment advice.

Anchoring begins when the asset enters the live ledger.