The two million-square-foot Two Manhattan West, the second of two workplace towers in Brookfield Properties’ Manhattan West challenge, has topped out. The 58-story constructing is scheduled for completion in 2023.
The 8-acre, six-building Manhattan West challenge is adjoining to and instantly east of the Hudson Yards redevelopment.
Designed by Skidmore, Owings & Merrill, Manhattan West’s grasp architect, Two Manhattan West can accommodate a number of lobbies and a black automotive drop-off and is already 25 % preleased.
The placement supplies prepared entry to transportation hubs Penn Station and Moynihan Prepare Corridor, in addition to Madison Sq. Backyard and the Excessive Line, and the number of eating, retail and leisure choices within the mixed-use Manhattan West improvement.
Along with Two Manhattan West, the neighborhood options workplace buildings One and 5 Manhattan West, in addition to The Lofts, with almost 6 million sq. toes of workplace house leased to tenants such because the NHL, Ernst & Younger, JPMorgan Chase and Amazon.
The challenge additionally consists of The Eugene luxurious residences; Pendry Manhattan West Resort; eating places Zou Zou’s, Ci Siamo, and Each day Provisions; and artwork set up Citrovia.
A Brookfield spokesperson didn’t reply to Business Property Govt’s request for extra info.
A wholesome market, contemplating
Two Manhattan West landed its anchor tenant again in late 2019, when Cravath, Swaine & Moore LLP agreed to take 481,000 sq. toes, or 13 full flooring, there because the legislation agency’s new nationwide headquarters.
Brookfield’s first workplace tower in Manhattan West, the two.1 million-square foot One Manhattan West, additionally did nicely with preleasing. It opened in October 2019 already about 90 % leased.
The Manhattan workplace market ended 2021 strongly, with a pandemic-record 8.3 million sq. toes of leasing exercise within the fourth quarter, based on a report from Newmark. The corporate cautioned, nonetheless, that “the rise of the Omicron variant … might reasonable momentum.”
The flight to high quality has accelerated, Newmark reviews, “with leases signed in trophy product rising as a share of general velocity from 7.7 % in 2020 to 13.1 % in 2021.”