Henry Hall Sells for $129M in Hudson Yards Multifamily Deal

Amstar Group has acquired Henry Hall, a 225-unit luxury rental tower located at 515 West 38th Street in Manhattan’s Hudson Yards neighborhood, for approximately $129 million.

JLL represented the seller in the transaction and also arranged acquisition financing, which included a $71 million loan provided by U.S. Bank.

Luxury Rental Tower in Hudson Yards

Completed in 2017, Henry Hall is a 33-story multifamily property located on Manhattan’s Far West Side, within close proximity to the Hudson Yards development district.

The building includes 225 rental units consisting of studio, one-bedroom, and two-bedroom apartments, along with approximately 12,500 square feet of ground-floor retail space.

Amenities at the property include a rooftop terrace with Hudson River views, a fitness center, coworking areas, and a double-height lobby, as well as unique features such as a music studio space for residents.

The property also benefits from a 421-a tax abatement in place through 2039, providing long-term tax advantages for ownership.

Acquisition Financing Arranged by JLL

JLL’s capital markets team arranged both the sale and the acquisition financing for the transaction.

The $71 million loan provided by U.S. Bank reflects continued lender interest in stabilized multifamily assets located in prime urban markets, even as overall lending conditions remain selective.

The financing structure supports Amstar’s acquisition of a fully operational asset with in-place income and established occupancy.

Continued Investment in Hudson Yards

Henry Hall is located within Hudson Yards, one of the most significant redevelopment districts in New York City.

The neighborhood has experienced substantial growth over the past decade, driven by large-scale office, residential, and infrastructure investment that has transformed Manhattan’s West Side into a major live-work environment.

Multifamily properties in the area continue to benefit from proximity to major employers, transit access, and new retail and entertainment offerings.

Final Thoughts

The $129 million sale of Henry Hall highlights continued investor demand for stabilized multifamily assets in core New York City submarkets.

As capital markets remain selective, transactions involving well-located residential properties with strong fundamentals and tax advantages continue to attract both equity and debt capital.

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