Equinox hotel in NYC sells to Mori Trust

NEW YORK CITY – 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 privately held Mori Trust.

Mori Trust purchased the first to 38th floors of the megaproject, 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.

The news comes as Equinox announced a mixed-use development deal in Anguilla.

Mori Trust gets a 60,000 square foot Equinox health spa, 180,000 square feet of fully leased office space (including the corporate headquarters of Related-owned Equinox) and 237,453 square feet for the 212-key Equinox Hotel occupying the 24th to 38th floors.

“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,” said Mori Trust president and CEO Miwako Date. “Going forward, we will operate 35 Hudson Yards, an iconic building representing Manhattan, as an even more attractive property.”

The latest buy follows Mori Trust’s 2023 acquisition of a 49.9% stake in a Midtown Manhattan office building, 245 Park Avenue, from joint owner SL Green Realty in a deal valuing the 45-storey tower at $2 billion.

The Hudson Yards property is Mori Trust’s 12th real estate investment in the U.S., predominantly office buildings. In Japan, last year it bought the 200-room Fairfield by Marriott Osaka Namba.