Brookfield signs Skadden to mega-lease, will begin construction on 1 Manhattan West

White-shoe law firm to take 550,000 square feet at 2.1M sf office tower at Hudson Yards

TRD New York /
Apr.April 14, 2015 06:34 PM

Brookfield Property Partners signed law firm Skadden, Arps, Slate, Meagher & Flom to a 20-year lease for 550,000 square feet at Brookfield’s 1 Manhattan West, allowing the real estate investment trust to kick off construction on the 2.1 million-square-foot office tower.

The law firm will take the 28th to 43rd floors of the tower, one of two planned commercial buildings at Brookfield’s 7 million-square-foot Manhattan West project, Brookfield announced today.

“When this building opens in 2019 it will be home to Skadden and other exceptional companies from New York and around the world, and Manhattan West will have established itself as a dynamic, vibrant mixed-use community,” Dennis Friedrich, CEO of Brookfield Property Partners’ office division, said in a statement.

A JLL team led by Peter Riguardi, Kenneth Siegel and Matthew Astrachan represented Skadden. The in-house team of Jerry Larkin, Duncan McCuaig and David McBride, as as well as a Cushman & Wakefield team including Bruce Mosler, Josh Kuriloff and Mikael Nahmias represented Brookfield.

Skadden will relocate from its current headquarters at 4 Times Square upon the expiry of its lease in 2020, the New York Daily News reported in August.

The Real Deal reported last month that Brookfield had signed London-based global financial data provider Markit to a 15-year lease for a 140,000-square-foot space at 5 Manhattan West, the 16-story, 1.8 million-square-foot building adjacent to the 1 Manhattan West tower. — Rey Mashayekhi


Related Articles

arrow_forward_ios
Cushman & Wakefield CEO Brett White and JPMorgan CEO Jamie Dimon (Cushman & Wakefield; Getty)

Cushman’s $3B debt load poses default risk

Cushman’s $3B debt load poses default risk
J.C. Penney CEO Jill Soltau and Aurelius Capital Management CEO Dirk Markus (Getty; Wikipedia Commons)

J.C. Penney creditors want slow down “bad faith” sale

J.C. Penney creditors want slow down “bad faith” sale
The Manhattan office market’s overall vacancy rate rose to a 24-year high of 13.3% in the third quarter (iStock)

Cushman & Wakefield paints bleak picture for Manhattan office market

Cushman & Wakefield paints bleak picture for Manhattan office market
(Illustration by Maciej Frolow)

Does Brookfield’s balance sheet fully reveal the health of its real estate?

Does Brookfield’s balance sheet fully reveal the health of its real estate?
Brock Emmetsberger, Tom Gammino and Will Suarez (JLL)

JLL makes cuts to I-sales team

JLL makes cuts to I-sales team
The Vitre at 302 East 96th Street with Wonder Works Construction's Joseph Klaynberg and Daniel Klaynberg (Google Maps; Wonder Works)

Wonder Works’ UES condo being shopped at foreclosure sale

Wonder Works’ UES condo being shopped at foreclosure sale
Cushman’s Brett White and Newmark’s Barry Gosin (Getty)

Newmark Group rejects Cushman & Wakefield takeover offer

Newmark Group rejects Cushman & Wakefield takeover offer
From left: 410 Tenth Avenue, 745 Fifth Avenue, One Manhattan West and 522 Fifth Avenue (Google Maps, Wikimedia)

Real estate lending bounces back in September in a big way

Real estate lending bounces back in September in a big way
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...