Tishman Speyer Signs 130K SF Of Leases At The Spiral
Less than a year after the 2.8M SF skyscraper wrapped up construction, The Spiral's occupancy is now over 80% with a batch of new deals.
Developer Tishman Speyer has signed five lease agreements totaling more than 129K SF at the West Midtown skyscraper, it announced Monday. Among them is a more than 35K SF expansion for HSBC that brings the bank’s footprint to more than 300K SF in the building at 66 Hudson Blvd.
HSBC now occupies the entirety of the 66-story tower’s 29th and 30th floors, as well as three podium floors and the street-level Wealth Center, catering to global affluent clients.
HSBC first announced that it would relocate its New York City headquarters from 452 Fifth Ave. in May 2022. Pfizer occupies roughly 800K SF of the tower after its anchor lease signed in 2017 kicked off construction.
“Following our move to The Spiral earlier this year, employee feedback and engagement have been off the charts,” HSBC U.S. Chief Operating Officer Michael Privitera said in a statement.
Tech firm XR Extreme Reach signed a lease for more than 13K SF on the 21st floor, relocating from 1633 Broadway. Proptech venture capital firm Fifth Wall also moved into the skyscraper in February, ditching its 1 Little West 12th St. office for nearly 7K SF on The Spiral’s 53rd floor.
Two other investment management companies signed leases for 39K SF and 36K SF, respectively, though Tishman Speyer declined to identify either one.
Tishman Speyer has also added coworking to the tower, dedicating the 23rd and 24th floors to its Studio-branded workspaces. The developer also recently introduced Spiral Suites, offering pre-built suites ranging from 7K SF to 48K SF.
Greg Conen and Sam Brodsky handle leasing for The Spiral in-house for the developer. JLL teams represented HSBC and XR Extreme Reach, while Fifth Wall was repped by CBRE.
The leases are another sign of the momentum building in Manhattan's office market, where available space has begun to tick down in recent months from record highs over the winter. More than 3M SF of leases were signed in May alone, a 70% year-over-year jump, according to Colliers.
