Brookfield Lands Anchor Tenant at Manhattan Tower
- Oct 07, 2019
Brookfield Properties has secured an anchor tenant for Two Manhattan West, its 1.9 million-square-foot office tower currently under construction in New York City. National law firm Cravath, Swaine & Moore LLP inked a deal to take 481,000 square feet at the forthcoming 58-story property rising on the Far West Side of Manhattan. The firm will be occupying 13 full floors in the building, which will serve as the national headquarters for Cravath once the firm moves into the property in 2024.
“As was the case with One and Five Manhattan West, demand for space at Two Manhattan West is very strong,” Andrew Brent, spokesperson for Brookfield Properties, told Commercial Property Executive. “Companies are citing Brookfield’s success creating dynamic placemaking destinations, Manhattan West’s innovative culinary and wellness amenities, the site’s proximity to Penn Station and mass transit, and new, state-of-the-art product as major draws.”
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Two Manhattan West is located on the southeast corner of 31st Street and Ninth Avenue, close to the Penn Station transit hub. It’s the second mega office property to be developed at the Manhattan West site by Brookfield, which previously built One Manhattan West, a 2.1 million-square-foot tower which is set to open in October. The National Hockey League signed on in December 2016 for 160,000 square feet at the building, which will serve as its headquarters.
A CBRE team of Lewis Miller, Andrew Sussman, Cara Chayet and Munish Viralam represented Cravath in the lease deal, while landlord Brookfield was represented by Bruce Mosler and Josh Kuriloff of Cushman & Wakefield and by an in-house team of Duncan McCuaig and P.J. Massey.
Brookfield’s Manhattan West development
Brookfield’s Manhattan West site is an eight-acre, six-building, mixed-use development that will feature some 6 million square feet of office space once fully completed. The $8.6 billion development includes Five Manhattan West, a mixed-use property that is close to being fully leased and houses tenants including Amazon, JP Morgan Chase and R/GA Media. The ground-floor retail space features tenants including Whole Foods and Peloton, with Danny Meyer’s Union Square Hospitality Group slated to open a restaurant within Manhattan West’s two-acre central plaza.
The other office property at the site is The Lofts at Manhattan West, a boutique building that is home to coworking platform Spaces and includes loft-like spaces featuring high ceilings, terraces and exposed beams. An industrial property originally built in 1913, it was converted to office use in 2002. Brookfield Properties acquired a controlling interest in the property in 2015 for $69 million, per Yardi Matrix data.