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New York

New tenant commits to a lease at One Manhattan West

Ernst & Young joins Amazon in signing leases at the new office spaces

Ernst &Young CEO Mark Weinberger with One Manhattan West in the background.(Godsfriendchuck/Wikimedia Commons, back photo; Russian Government photo, front)
Ernst &Young CEO Mark Weinberger with One Manhattan West in the background.(Godsfriendchuck/Wikimedia Commons, back photo; Russian Government photo, front)

Ernst & Young are the latest company to commit to office space in One Manhattan West, signing a lease for 600,000 square feet spread throughout 17 floors, according to the Wall Street Journal.

The company joins other big tenants including Amazon, Accenture and J.P. Morgan Chase & Co.

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A large part of the draw to the building, which is being developed by Brookfield Property Partners, is the tax incentives tenants could receive from the state for creating new jobs in New York. If Ernst & Young creates about 1,150 new jobs in the city over the coming year, the company could nab about $12 million in tax credits.

The company’s current office lease at 5 Times Square runs out in 2022 with no known plans on what it will do with the 900,000 square feet it will leave behind after the move.

[WSJ] — E.K. Hudson

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Brookfield Property PartnersDevelopment