EY moving forward with Hudson Yards move: report

Times Square is facing major vacancies as big tenants jump ship

TRD NEW YORK /
Aug.August 14, 2017 08:30 AM

Rendering of 1 Manhattan West

Accounting firm EY, formerly known as Ernst & Young, is moving forward with a deal to lease as much as 1 million square feet at Brookfield Property Partners’ TRData LogoTINY 1 Manhattan West.

The Big Four accounting firm plans to leave behind its 1-million-square-foot office at RXR Realty and David Werner’s 5 Times Square, Crain’s reported. The Real Deal reported in May that the firm was a mulling a move to take office space at both 1 Manhattan West and the Rockefeller Group’s 1271 Sixth Avenue. It appears the accounting company has instead opted to keep it simple by only moving into Brookfield’s new tower.

EY is among a few tenants who are ditching Times Square for Hudson Yards. Morgan Stanley is also considering moving to the Bjarke Ingels-designed office tower, the Spiral at 509 West 34th Street. The bank, which owns and occupies 1585 Broadway and 522 Fifth Avenue, has also shown interest in 50 Hudson Yards.

The departures would leave major office spaces empty in Times Square. Brokers say the flashy neighborhood is an increasingly hard sell for prospective tenants, who are often put off by the throngs of tourists and costumed characters they’d have to wade through to get to work. [Crain’s]Kathryn Brenzel 


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

The Observation Deck at Hudson Yards (Credit: Adam Pogoff)

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere

Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)

Facebook close to finalizing Hudson Yards office deal: report

Judge Janet DiFiore and Judge Rowan Wilson (Credit: iStock, New York State Courts)

High court decision has tenants stewing, landlords oohing

Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

(Credit: iStock)

EB-5 is back in the doghouse

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

arrow_forward_ios
Loading...