Brookfield To Launch Construction On $2B Manhattan West Tower With No Leases Signed
Brookfield will move ahead with the next building at its Manhattan West megaproject without a lease in the bag.
The 62-story, nearly 2M SF 2 Manhattan West is slated to cost $2B, and is set for completion in 2022. Brookfield has not secured any commitments from tenants to move to the building, but the equity giant — which recently became the city’s biggest landlord — is confident the building can fill up as it goes up, Crain’s New York Business reports. Brookfield's financial partner on the building is the Qatari Investment Authority.
"We know firsthand that space in 2 Manhattan West is highly sought-after, and we're moving ahead," Brookfield Executive Vice President Ben Brown told Crain's. "Based on our success leasing office space at Manhattan West to date, combined with the high level of interest we are seeing from leading companies seeking new space, we are excited to bring 2 Manhattan West on-line as quickly as possible."
Once complete, Manhattan West will feature 6M SF of office space, a 2-acre public park, a boutique hotel, more than 200K SF of retail space and a luxury rental tower. The project sits across 10th Avenue from Related and Oxford Properties' even-bigger megaproject, Hudson Yards.
Brookfield started One Manhattan West, the sister tower in 2015, after it locked down a 600K SF lease with law firm Skadden Arps. Accounting firm EY, the National Hockey League and Accenture have all signed leases to occupy that tower, which is expected to open this year.
At Five Manhattan West, a $300M+ redeveloped building, Brookfield has signed Amazon and JPMorgan Chase as office tenants and Whole Foods to occupy its retail space. IWG-owned Spaces will open a coworking space in the Lofts, the boutique office building at the project.