Deloitte to Anchor New Manhattan Skyscraper in High-End Office Revival
Deal News | May 01, 2025 | New York City Economic Develop
Deloitte has committed to a significant lease agreement for 800,000 square feet in the upcoming 70 Hudson Yards tower, part of Manhattan's Hudson Yards development. This project signifies a major shift for Deloitte as it moves its headquarters from Rockefeller Center to the West Side, reflecting the heating of New York's premium office market. The development will offer modern amenities, reflecting a demand surge amongst top firms despite enduring vacancy rates in older buildings and potential recession risks. The project begins in June, with construction gaps making new spaces highly sought after.
Sectors
- Real Estate Development
- Professional Services
- Financial Services
Geography
- United States – The article relates to developments in the U.S. commercial real estate sector in Manhattan, New York City.
- New York – The primary focus is on New York City's Manhattan area, specifically the Hudson Yards development project.
Industry
- Real Estate Development – The article is centered around the development of the Hudson Yards, a commercial real estate project in Manhattan.
- Professional Services – Deloitte, a major player in professional services, is the primary focus of the leasing arrangement.
- Financial Services – The Manhattan office market includes financial firms like Wells Fargo, BlackRock, and KKR as prospective tenants.
Financials
- 800,000 square feet – The amount of office space leased by Deloitte in the 70 Hudson Yards tower.
- 1.1 million square feet – The total space of the 70 Hudson Yards tower.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Deloitte | Tenant | Company | A major professional services firm set to move its headquarters to Hudson Yards. |
| New York City Economic Development Corporation | Development Facilitator | Company | Involved in facilitating the construction and commercial developments in New York City, including Hudson Yards. |
| Hudson Yards | Development Project | Company | A large-scale real estate development project in Manhattan's West Side. |