The Real Deal New York

For new HQ, Deutsche Bank is eyeing 2 WTC and 50 Hudson Yards

Banking giant is looking for 1.3 million square feet
September 05, 2017 12:15PM

From left: 50 Hudson Yards, Deutsche Bank’s CEO John Cryan and 2 World Trade Center

Deutsche Bank is considering 2 World Trade Center and 50 Hudson Yards for a new headquarters when its lease expires in 2022.

The banking giant is looking for 1.3 million square feet, and sent requests for proposals to Silverstein Properties and the Related Companies and Oxford Properties Group, the New York Post reported.

Deutsche is headquartered at 60 Wall Street, the 50-story tower valued at $1.1 billion earlier this year when Singaporean sovereign wealth fund GIC bought a 95 percent stake in the building.

The company was long associated with the World Trade Center site through the building it owned at 130 Liberty Street, which was the last of the large structures to be cleared away after the terrorist attacks of 9/11.

Silverstein, meanwhile, has struggled to find an anchor tenant for the Bjarke Ingels-designed 2 World Trade Center after Twenty First Century Fox and News Corp. backed out of a non binding deal in 2015 to lease 1.3 million square feet in the 2.8 million square foot tower.

Related and Oxford just sold a 90 percent stake in 50 Hudson Yards to Mitsui Fudosan America. The owners recently landed a $1.5 billion construction loan from a consortium of lenders, including Bank of China, Deutsche Bank, Wells Fargo, HSBC and Sumitomo Mitsui Banking Corporation. Asset manager BlackRock is anchoring 50 Hudson Yards, with a $1.25 billion deal to take 850,000 square feet over 20 years. [NYP]Rich Bockmann