A few days ago, the New York Post reported on the brewing complex deal between property developer Related Companies and Sotheby’s that is modeled on similar deals proposed for TimeWarner and completed with Coach:
Stephen Ross of Related Cos. is bidding on Sotheby’s 500,000 square-foot building at 1334 York Ave., with a proposal that includes snagging them as a tenant for his Hudson Yards project.
The proposed 1031 tax-free exchange would have Sotheby’s buy — and perhaps partially lease — several hundred thousand square feet in the 750,000 square-foot retail podium that connects the first two office towers at Hudson Yards.
Hudson Site Woos Sotheby’s (NYPost)
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