Mitsui Fudosan buys $259M stake in 55 Hudson Yards

Mitsui Fudosan has paid $258.8 million for a stake in Related’s upcoming Far West Side office tower at 55 Hudson Yards. Details regarding the actual percentage that the US investment arm of the Japanese development firm has purchased in the tower have not been disclosed. Related plans to break ground for construction of the 1.3 million square foot tower early next year. [TRD]

Brookfield to purchase $93M in building bonuses for Three Manhattan West

Brookfield Office Properties has filed an application with the Department of City Planning to purchase 740,348 square feet of District Improvement Bonuses for $93 million. Brookfield will use the bonuses to construct its 62-story tower at 3 Manhattan West; the building will consist of 844 residential units, according to the filed application. [TRD]

Renderings Revealed for Marriott Courtyard in Hudson Yards

Atria Developers and Marx Development Group, along with architectural firm DSM Design Group, have revealed renderings for a 29-story Marriott Courtyard Hotel at 461 West 34th Street. The 312-foot building will rise directly adjacent to Related’s Hudson Yards and feature 399 hotel rooms. The project adds to a growing list of new developments seeking to benefit from the soon-to-be-prime location along the periphery of Hudson Yards. [YIMBY]

Sam Chang and the Garment District

Hotel developer Sam Chang has shown a particular interest in the Garment District as of late. The president and chief executive officer of McSam Hotel Group is currently under contract to purchase 338-340 West 39th Street for $22.5 million. The industrial loft building is adjacent to 350 West 39th Street, which Chang had purchased for $112 million a couple months ago. In the past year, Chang has also purchased 334 West 36th Street, secured an approximately$25 million bridge loan in order to acquire 326 West 37th Street, and is currently building a  35-story Holiday Inn at 585-587 Eighth Avenue. [CommercialObserver]