Tishman Speyer Lands 530 KSF Lease at Manhattan Tower
- Jan 07, 2020
New York City-based owner and developer Tishman Speyer has inked a major lease deal for The Spiral, the firm’s Class A office tower currently under construction in Hudson Yards. Law firm Debevoise & Plimpton LLP signed on for 530,000 square feet at the 65-story office property, in a 20-year lease agreement.
The firm, which counts 800 lawyers across three continents, is expected to move to its new offices at The Spiral in 2022 from its current offices at SL Green’s 919 Third Ave. in Midtown East.
With the new lease, Tishman’s 2.8 million-square-foot tower is now 54 percent pre-leased, with more than two-and-a-half years to go until it is fully complete. Last April, financial firm AllianceBernstein signed on for 189,000 square feet at the property, which it will occupy starting in 2025.
Designed by famed architect Bjarke Ingels, The Spiral will top out at 1,031 feet and feature a distinctive façade of cascading landscaped terraces and hanging gardens. Located at 66 Hudson Blvd. in the heart of Hudson Yards, the glassy tower encompasses a full city block and sits at the intersection of The High Line and the four-acre Bella Abzug Park.
Slated to open in the second half of 2022, The Spiral will feature outdoor green space, a lobby with ceiling heights up to 28 feet, a seventh-floor amenity terrace and roughly 25,000 square feet of retail at the base of the building.
In 2018, Tishman landed $1.8 billion in financing from Blackstone Mortgage Trust to build the tower, followed by an 800,000-square-foot lease deal with pharma giant Pfizer to relocate its global headquarters to the property.
Meanwhile, Tishman recently announced it will transform the upper floors of a historic building in Manhattan’s Chelsea neighborhood into 630,000 square feet of modern office space. Located at 341 Ninth Ave., the Morgan North Postal Facility previously served as one of the largest mail-processing centers in the U.S. So far, Tishman Speyer has pre-leased more than 50 percent of the project to Dentsu Aegis Network, a multinational media conglomerate.