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By: Hellen Zaboulani
The skyscraper, dubbed The Spiral, landed new commercial leases, raising its occupancy levels. As reported by Realty Check, the Tishman Speyer tower announced five new leases were inked, for a total of 129,500 square feet of space. The 2.8 million square-foot tower in the Hudson Yards district will boast 81 percent occupancy, thanks to the new leases. The new deals include HSBC which added an additional 35,400 square feet of space to its US headquarters lease, bringing the banking giant’s total square footage at the tower to more than 300,000 square feet.
Also, two other investment management firms, which have not yet been identified, signed leases for a combined total of close to 90,000 square feet. One of those firms is reportedly moving from Manhattan West, while the other is relocating from Related’s Hudson Yards complex. Additionally, Global tech firm XR Extreme Reach took on 13,400 square feet at The Spiral, moving from 1633 Broadway. Lastly, Asset manager Fifth Wall is relocating to the tower with a 6,700 square foot lease, moving from its current office in 1 Little West 12th street, as per the Post. Details and terms of the leases were not yet available. The asking rents for office space at the Spiral have typically ranged from $125 to $225 per square foot.
The 1031- foot tower, on the block bounded by Hudson Boulevard, Tenth Avenue and West 34th and 35th streets, was opened in 2023. Other notable marquee-named tenants at the colossal tower include: asset manager Marshall Wace, which took on 79,000 square feet of space in the tower last summer; Pfizer; AllianceBernstein; Turner Construction, which was the building’s general contractor; NY Presbyterian Hospital; Baker Tilly; and Debevoise & Plimpton.
The skyscraper was given its name for the outdoor gardens that spiral around the facade of the building in a continuous green pathway, designed by architects BIG-Bjarke Ingels Group. The building boasts a top-floor ZO Clubhouse amenity center and lounge with an open-air terrace featuring panoramic views of New York City. In March 2023, the Spiral won the CoStar Impact Award for best commercial development in the NYC region.
Per the Post, the 66-floor tower still has construction going on at the major ground-floor restaurants, slated to open in 2025. Restaurants planned for the space include a Peruvian-Japanese place on the northwest corner of 10th Avenue and West 34th Street by Erik Ramirez and Juan Correa who also run the Llama San and Llama Inn. Also, Michelin-starred chef Gabriel Kreuther will be launching two new concepts on the Hudson Boulevard side of the tower.
The new leases bode well for commercial real estate, which was slow to recover after the pandemic and with remote-work patterns that were hard to shake. Back in August, a year after the building’s opening, it had been at 75 percent occupancy. The Hudson Yards District, officially west of Ninth Avenue most prominently featuring the 26-acre Hudson Yards complex owned by Related Cos, boasts good trains and commuter resources.
