Hedge fund finds 283K sf at Two Manhattan West

D.E. Shaw appears to be upsizing from 1166 Sixth Avenue

Brookfield Properties’ Brian Kingston with Two Manhattan West
Brookfield Properties’ Brian Kingston with Two Manhattan West (Brookfield Properties, Getty)

UPDATED, Sept. 27, 2022, 12:45 p.m.: Two Manhattan West remains a busy spot in Manhattan’s uncertain office market.

Brookfield Properties landed hedge fund D.E. Shaw as its latest tenant at the massive Hudson Yards office development, Bloomberg reported. The company is taking 283,000 square feet across eight floors, planning on moving in during 2024.

It’s not clear how much D.E. Shaw is paying in the deal, which brings Brookfield’s tower to 76 percent leased. The vaunted office project is slated for completion next year.

The hedge fund is moving its headquarters from Minskoff Equities’ 1166 Sixth Avenue. The move appears to be a rare upsizing in the office market, as the company occupied 237,000 square feet there roughly nine years ago. A more recent tally from Globe Street put that number even lower in 2018, at 200,000 square feet.

Brookfield has been racking up deals at Two Manhattan West. Global audit and consulting firm KPMG last month announced a deal for 450,000 square feet, reportedly the largest office lease in the city this year. The firm expects to make its move in late 2025.

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In June, Brookfield announced international law firm Clifford Chance was taking 144,000 square feet. Cravath Swaine & Moore, another law firm, has 481,000 square feet at the building.

Brookfield’s 58-story, 1.9 million-square-foot property is well-positioned in the flight to quality driving new deals in the market. Amenities include a 3,200-square-foot landscaped terrace, bike storage, conference centers and a fitness and wellness center; the company filed plans for the building in 2017.

Real estate asset manager Cohen & Steers is cushioning the blow at 1166 Sixth Avenue. The company earlier this month signed a 161,000-square-foot lease at the building. The floors the firm is leasing belong to Marsh McLennan, though, not Minskoff.

Correction: A previous version of this story said Cravath Swaine & Moore were taking 350,000 square feet at the building. It has been updated to reflect the firm has 481,000 square feet.

Holden Walter-Warner