Manhattan’s most valuable office leases

When it came to big office leases in New York last year, Hudson Yards was the place to be. The new neighborhood saw three of the city’s 10 most valuable office leases in 2019, more than any other part of New York, according to The Real Deal’s analysis of CompStak data. This included the most valuable office lease of the year — WarnerMedia’s roughly $2 billion deal at 30 Hudson Yards — along with Cravath, Swaine & Moore’s $1 billion deal at 2 Manhattan West and AllianceBernstein’s $448 million deal at 66 Hudson Boulevard.

Midtown held onto its share of big leases as well, thanks to AIG’s $506 million deal at 1271 Avenue of the Americas and Colgate-Palmolive’s $328 million deal at 300 Park Avenue. Other major leases included Google’s $1.5 billion deal at 532 Washington Street in Hudson Square and NYC Health + Hospitals’ $758 million deal at 50 Water Street in the Financial District. 

50 Water Street
50 Water Street
401 West 31st Street
401 West 31st Street

Most Valuable Manhattan Office Leases of 2019

RankAddressTenantStarting RentsTotal Deal ValueSq. Ft.Tenant Brokerage
130 Hudson YardsWarnerMediaMid $70s psf$1.97B1,463,234Cushman & Wakefield
2532 Washington StreetGoogleMid $70s psf$1.50B1,295,800CBRE
3401 West 31st StreetCravath Swaine & Moore LLPLow $90s psf$1B481,000CBRE
450 Water StreetNYC Health + Hospitals CorporationMid $50s psf$758M526,552Newmark Knight Frank
5341 Ninth AvenueDentsu Aegis NetworkHigh $100s psf$533M320,000Cushman & Wakefield
61271 Avenue of the AmericasAIGLow $90s psf$506M320,237JLL
766 Hudson BoulevardAllianceBernsteinLow $100s psf$448M189,226Newmark Knight Frank
8622 Third AvenueMcCann-EricksonHigh $50s psf$419M450,000JLL
955 Water StreetEmblemHealthMid $50s psf$383M438,476Colliers International
10300 Park AvenueColgate-PalmoliveMid $80s psf$328M241,657CBRE
Source: First published in December 2019 on TRD analysis of CompStak data from Jan. 1, 2019 to Dec. 6, 2019.