In October, TPG made a significant move to eight high floors in Tishman Speyer’s Spiral, also known as 66 Hudson Boulevard. The private equity powerhouse secured 301,276 square feet in this new location, marking a substantial relocation from their previous offices at 888 Seventh Ave. and 245 Park Ave. The deal, initially reported by Bloomberg in July, was finalized last week.
The move to the Spiral represents a 20,000 square-foot expansion for TPG, bringing the 2.8 million square-foot building to 94% occupancy. Other notable tenants in the building include Pfizer, HSBC’s US headquarters, Debevoise & Plimpton LLP, AllianceBernstein, Turner Construction, and Marshall Wace. This achievement is impressive considering that the Spiral only opened its doors two years ago in what was once considered the Far West Side.
The location of the Spiral, situated in the midst of Related’s Hudson Yards and Brookfield’s Manhattan West, has now become a central hub for corporate growth in Midtown Manhattan. TPG’s partner and chief operating officer, Anilu Vazquez-Ubarri, mentioned that New York is now the largest location in their global office network, which includes other major cities like San Francisco, Fort Worth, Chicago, and Washington, DC.
The move to Hudson Yards signifies TPG’s commitment to growth and evolution in the real estate sector. Vazquez-Ubarri expressed excitement about the move, stating that the new space offers ample opportunities for collaboration and connectivity in a vibrant business environment. Additionally, Tishman Speyer had a successful month overall, with the refinancing of Rockefeller Center for $3.5 billion, further solidifying their position as a leader in the industry.
CEO Rob Speyer highlighted that the design of the Spiral was intended to attract top companies from various sectors. The move by TPG and the success of Tishman Speyer’s recent endeavors underscore the continued development and growth of the corporate landscape in New York City.
