The Real Deal New York

New York Life mulls move to Goldman Sachs’ Jersey City tower

Insurance giant lease for 115K sf would bring building to full occupancy
April 15, 2015 11:45AM

New York Life Insurance is considering moving 325 employees to Goldman Sachs’ tower on the Jersey City waterfront.

The deal would be for 115,000 square feet, bringing the building at 30 Hudson Street to full occupancy, Bloomberg reported.

Goldman Sachs built the tower in the early 2000s in order to consolidate employees who were scattered across Lower Manhattan, but ended up opening a new headquarters in the Financial District and moving the employees back. Originally, the 1.4 million-square-foot tower was intended to house only Goldman employees.

New York Life would receive $33.9 million in incentives over 10 years from the New Jersey Economic Development Corporation for the Jersey City relocation, including moving 325 jobs currently located in Parsippany and adding another 300. The potential move would start in early 2016. [Bloomberg] — Tess Hofmann