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Allianz Buys Stake in Hudson Yards Tower for $384 Million

30 Hudson Yards observation tower in New York. 

30 Hudson Yards observation tower in New York. 

Photographer: Michael Nagle/Bloomberg
Updated on

Allianz SE is making another bet on New York City’s Hudson Yards, buying into a second skyscraper in the development.

The German insurer paid $384 million for a 49% stake in an office condo at 30 Hudson Yards, according to a statement Friday. The transaction is part of a sale-leaseback with Related Cos., the co-developer of the $25 billion project on Manhattan’s far west side, and a third party.