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Global financial services firm BBVA is leaving its current digs in Midtown for a new home in Brookfield Properties’ new skyscraper near Penn Station, Two Manhattan West.
BBVA, which is headquartered in Spain, will occupy 74K SF, taking the eighth and ninth floors in the almost-opened, 58-story tower, Brookfield announced Monday.
The 1.9M SF building is the final piece of the six-building Manhattan West complex, and it is 80% leased ahead of when Brookfield expects to welcome the first tenants early next year. It features a slew of high-end amenities and is planned to be fully energized by hydropower facilities in upstate New York.
“We are pleased to welcome BBVA to its new headquarters at Two Manhattan West, a trophy tower that sets the standard for workplace excellence,” Brookfield Properties’ Callie Haines, executive vice president for the company’s Northeast region, said in a statement.
BBVA plans to move in by the end of 2024, joining a tenant roster that includes U.S. audit, tax and advisory firm KPMG, plus global law firms Clifford Chance and Cravath, Swaine & Moore LLP.
“We are looking forward to moving into a prime building in a very attractive location, to provide the best possible experience to our BBVA team in New York,” Regina Gill, BBVA CIB’s U.S. head, said in a statement. “This is one more step in our growth plans in the US, as well as in our commitment to sustainability, by choosing a building powered by renewable energy.”
It is expanding in the relocation from Fisher Brothers’ 1345 Sixth Ave., where it leases 42K SF, the New York Post reported. The family-run firm spent $100M to renovate the 2M SF Plaza District office tower in 2021.
BBVA was represented by JLL’s Joe Messina and Cushman & Wakefield’s Paul Ferraro, while an in-house team of Duncan McCuaig, Mikael Nahmias, Dave Caperna and Dan Roberts represented Brookfield Properties. Two Manhattan West is the sister building to One Manhattan West, which is 99% leased.
BBVA's move helps to reinforce the prevailing trend in the office market — the newest buildings with the deepest-pocketed owners have seen the most leasing success. Office buildings built after 2000 in Midtown had an availability rate under 10% in April, while prewar buildings had nearly 18% availability, according to Colliers data.
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