EY Expands Upcoming Lease At One Manhattan West
Accounting giant EY added to its lease at One Manhattan West, just before the end of the new year.
The company, formerly known as Ernst & Young, has added 71K SF to its footprint at Brookfield's under-construction office tower, bringing its total to 675K SF, the New York Post reports. EY initially signed a roughly 600K SF lease in November to occupy the sixth through 22nd floors of the 67-story, 2.1M SF building.
Although One Manhattan West is not expected to be finished until late 2019, it is already over 85% leased with a tenant roster including Accenture, the NHL, and law firms Skadden Arps and McKool Smith. Brookfield's $5B Manhattan West project, on the eastern end of the Hudson Yards district, has been among the biggest success stories of the new submarket.
According to the Post, Manhattan West signed 1.77M SF of leases in 2017, which accounted for 56.5% of total leasing volume in Hudson Yards. At 5.9M SF, Manhattan West accounts for less than 30% of the district's total office square footage. Five Manhattan West is 99% leased, counting Amazon as its highest-profile tenant.
The complex's glassy tower at One Manhattan West and tech/creative hub Five Manhattan West, along with the recently announced Two Manhattan West, are commanding rents approaching $100/SF, making the rapid lease-up all the more encouraging. At its alternative offering, boutique-styled The Lofts, Brookfield signed Hudson Yards' first co-working tenant in Regus' Spaces.
Qatar Investment Authority owns a 44% stake in Manhattan West, according to the Post.
