BlackRock in Talks to Move Headquarters to 50 Hudson Yardsby
Money manager has also discussed Tishman Speyer’s Spiral site
Firm seeking long-term lease for 850,000 square feet of space
BlackRock Inc., the world’s largest asset manager, is in talks to move its headquarters to a tower being built in the Hudson Yards development on Manhattan’s west side, two people with knowledge of the matter said.
The firm is negotiating with Related Cos., developer of the project’s largest tract, to take space in 50 Hudson Yards, said the people. BlackRock has also talked with Tishman Speyer Properties about a nearby skyscraper Tishman is planning known as The Spiral, said the people, who asked not to be identified because the talks are private. BlackRock’s discussions were reported earlier Tuesday by The Wall Street Journal.
BlackRock, which oversees $5.1 trillion in assets, is leaning strongly toward agreeing to a long-term lease at 50 Hudson, one of the people said. The New York-based firm is seeking about 850,000 square feet (79,000 square meters) of space, which would make the transaction one of the biggest office leases in the city this year.
The firm is currently in two buildings close to one another, Park Avenue Tower and 40 East 52nd St., with leases expiring in 2023. One person said staying in place had remained an option until recently.
Joanna Rose, a Related spokeswoman, declined to comment on the talks, as did Bud Perrone, a Tishman Speyer spokesman. Ed Sweeney, a BlackRock spokesman, said the company “has not made a final decision regarding its 2023 real estate needs.”