The commercial real estate rumor mill is buzzing with reports that Morgan Stanley is mulling a move to the 1 million square feet Goldman Sachs vacated at 85 Broad Street when it moved to its new 200 West Street tower, but the Post’s Steve Cuozzo notes that the rumors probably aren’t true. In fact, his sources gossiped that Morgan Stanley, despite having hired Newmark Knight Frank’s Barry Gosin to help the bank hunt for downtown space, is actually angling to stay at 1 New York Plaza when its 700,000-square-foot lease expires in 2013. Morgan Stanley did check out 85 Broad, but it’s possible that all the talk about moving is a ploy to convince landlord Brookfield Properties to negotiate a cheaper renewal lease and possible 300,000-square-foot expansion at 1 New York Plaza, according to Cuozzo. “So, they’re trying to use 85 Broad as a stalking horse to persuade Brookfield how nice it would be to keep them,” one source said. [Post]
Morgan Stanley to renew at 1 NY Plaza?
TRD New York /
Oct.October 19, 2010 08:30 AM
Newmark’s Barry Gosin
Even with an economic downturn looming, the flex-space industry will grow explosively: TRD forum panelists
Hamptons Cheat Sheet: Southampton properties merged into $73M mega listing, Peconic Bay fund earns $99M in real estate taxes … & more