Morgan Stanley to Consider Moving to New Hudson Yards Skyscraper: Sourcesby and
Bank said to look at west side building selected by BlackRock
‘We routinely review potential options for upgrading’
Morgan Stanley is considering moving into a new skyscraper at the Hudson Yards development on Manhattan’s far west side, potentially sharing a building with BlackRock Inc., according to two people with knowledge of the deliberations.
Morgan Stanley is looking at acquiring the roughly 2 million square feet (185,800 square meters) of space still available at 50 Hudson Yards, the people said, asking not to be identified because the search is confidential. The tower is among a number of potential sites, a decision isn’t imminent, and the investment bank could ultimately stay put, one of the people said. The talks began last year, the other one said.
“We routinely review potential options for upgrading our workspaces,” said Sarah Higgins, a spokeswoman for the New York-based bank. “As we consider plans to continue to upgrade our current office space, we are also in the very early stages of evaluating potential alternatives. We anticipate a lengthy timeline before any decisions are made.”
BlackRock last year signed a letter of intent to lease 850,000 square feet across 15 floors of the building, which may be completed in 2022. The tower, designed by the Foster + Partners architecture firm, will span an entire city block at 33rd Street and 10th Avenue.
It’s part of a larger $25 billion project under construction by Related Cos. and Oxford Properties Group that will create a new neighborhood of offices, apartments and retail space. Jessica Scaperotti, a spokeswoman for Related, didn’t immediately respond to a message seeking comment after normal business hours.
Hudson Yards has also attracted financial firms KKR & Co. and Point72 Asset Management, as well as companies including Time Warner Inc., Boston Consulting Group and L’Oreal USA.
Morgan Stanley’s current global headquarters is located at 1585 Broadway near Times Square. The firm moved into the building in 1995. The Wall Street Journal reported the bank’s interest in Hudson Yards earlier on Thursday.