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.
Most Valuable Manhattan Office Leases of 2019
|Rank||Address||Tenant||Starting Rents||Total Deal Value||Sq. Ft.||Tenant Brokerage|
|1||30 Hudson Yards||WarnerMedia||Mid $70s psf||$1.97B||1,463,234||Cushman & Wakefield|
|2||532 Washington Street||Mid $70s psf||$1.50B||1,295,800||CBRE|
|3||401 West 31st Street||Cravath Swaine & Moore LLP||Low $90s psf||$1B||481,000||CBRE|
|4||50 Water Street||NYC Health + Hospitals Corporation||Mid $50s psf||$758M||526,552||Newmark Knight Frank|
|5||341 Ninth Avenue||Dentsu Aegis Network||High $100s psf||$533M||320,000||Cushman & Wakefield|
|6||1271 Avenue of the Americas||AIG||Low $90s psf||$506M||320,237||JLL|
|7||66 Hudson Boulevard||AllianceBernstein||Low $100s psf||$448M||189,226||Newmark Knight Frank|
|8||622 Third Avenue||McCann-Erickson||High $50s psf||$419M||450,000||JLL|
|9||55 Water Street||EmblemHealth||Mid $50s psf||$383M||438,476||Colliers International|
|10||300 Park Avenue||Colgate-Palmolive||Mid $80s psf||$328M||241,657||CBRE|