By: Ilana Siyance

Many large office tenants are looking to make a move or downgrade. As reported by the NY Post, as big corporations continue the trend of consolidation, many are planning to shakeup their office spaces, in many cases to take on less space than they currently have. Companies looking to downsize include Havas, the French advertising and public relations creative agency now at 200 Hudson St. The company has been enjoying expansive space, occupying some 7 floors at the 12-story Tribecca office building since 2014, boasting some over 1,100 employees at the office. The firm’s Newmark tristate president, David A. Falk, responded to the Post saying, “We are evaluating all opportunities for Havas in the range of 350,000 square feet.”

Also, technology-focused hedge fund 2 Sigma is reportedly looking to make a move. The company is now working out 100 Sixth Ave. and 101 Sixth across the street, with a total of 500,000 square feet. Per the Post, it wants to consolidate the space into just 350,000-400,000 square feet in Manhattan’s Midtown or Midtown south. The firm has tapped a Cushman & Wakefield team, which includes Peter Trivelas and Tara Stacom, to search for the space. Reps declined to comment.

Financial holding company, Nomura Holdings, is eyeing Vornado’s Penn 2, per a report from Bloomberg. It is currently working out of Worldwide Plaza on 825 Eighth Ave., where it is leasing roughly 900,000 square feet of space, with the lease offering an exit option in 2027. If the firm opts to vacate some or all of its space at the iconic 49–story building, the building’s owners, SL Green and RXR, would have more available space than they care for.

The roughly 2-million square-foot tower, built in 1989 and renovated in 2013, already lost major tenant Cravath, Swain last year. An SL Green spokesman responded saying, “Worldwide Plaza is an iconic, well-located asset with a rare block of space available at the top that will be in high demand. The mortgage loan is current. We have ample reserves to support a robust redevelopment plan to bring the property up to today’s standards.”

There is also talk that AMC Networks, which currently houses its mass media and entertainment corporate headquarters on 10 floors at 11 Penn Plaza, may be eyeing 200,000 square feet somewhere else.

In January and February of 2025, we saw a strong surge in leasing. Since then, however, big deals have been harder to come by, though medium-size deals are still being inked, per the Post. The 26-story office building at 360 Lexington Ave., which offers 268,000-square-foot of space at East 40th Street, saw longtime tenant Webster Bank sign an expansion and extension for a total of 46,000 square feet.

The building also gained a new 15,000 square foot lease by Insurance group Signers National. The boutique tower recently was purchased by AmTrust RE, who has publicized plans to upgrade the building’s facade and to add high-end tenants’ amenity space. Privately held AM Trust RE, led by president Jonathan Bennett, has over 12 million square feet of prime U.S. commercial properties in its portfolio.