Hudson Yards just saw one of its boutique high-rises trade hands, with 33-story rental tower Henry Hall selling for about $129 million on March 2, 2026. The buyer is Amstar Group, while Shorenstein Investment Advisers and Dreamscape Companies are bowing out as owners. The property sits at 515 West 38th Street, a short walk from both the High Line and the 7 train.
Deal details
According to Bloomberg, Amstar agreed to acquire Henry Hall for roughly $129 million. Jones Lang LaSalle had been marketing the property, and Bloomberg reports that JLL confirmed in an emailed statement that Shorenstein Investment Advisers and Dreamscape Companies were the sellers. The original coverage noted that full financing details for the acquisition were not disclosed.
About Henry Hall
Per a listing by JLL, Henry Hall is a 33-story rental tower delivered in 2017 with roughly 225 units and a boutique, hotel-style design. JLL also highlights about 12,500 square feet of ground-floor retail and a 421a-15 real estate tax benefit that runs through 2039. The building's own marketing materials emphasize amenities such as a double-height lobby, a jam room, a roof deck and concierge services.
Price in perspective
When Henry Hall was financed and stabilized earlier in the decade, it was backed by sizable loan packages. In 2017, MetLife provided a roughly $134 million refinancing, a move documented by Commercial Observer. That earlier loan puts the new $129 million sale price close to prior financing levels, which underscores how stabilized, well-located Manhattan rentals can trade within a relatively tight pricing band. For Amstar, the purchase delivers a fully leased, amenity-heavy asset in a West Side pocket that remains in demand.
What renters will notice
Early coverage of Henry Hall's debut described the project as an 80/20 configuration that blended an affordable component with market-rate units, based on reporting from CityRealty. Current listings and comparable units at the building show studios and one-bedrooms often asking in the mid-$3,000 to mid-$5,000 range, according to listings on StreetEasy. Those asking rents offer a snapshot of the cashflow profile that Amstar is stepping into. The initial sale coverage did not spell out any changes to management or leasing, so tenants are not expected to see immediate operational shifts tied to the transaction.
At the time of the Bloomberg report, neither Amstar nor the selling partners had issued a public release with further detail on the deal. Even so, the sale is likely to draw interest from investors who are closely watching how Manhattan rental towers are trading for yield and long-term upside.
