Coach announces sale of interest in 10 Hudson Yards

American leather goods and luxury brand Coach has announced the sale-leaseback of their global headquarters at 10 Hudson Yards in New York City. The company received a purchase price of 707 million dollars (net of 77 million dollars due to the developer of Hudson Yards) before transaction costs of 26 million dollars, resulting in a gain of 30 million dollars which will be amortized over 20 years. Coach has also entered a 20-year lease for the headquarters space.