NEW YORK CITY—Developer Tishman Speyer is reportedly close to securing an anchor tenant for its 65-story The Sprial project in the Hudson Yards—Pfizer.
Pfizer is considering leasing approximately 800,000-square-feet at the 2.85-million-square-foot tower building at 66 Hudson Blvd., according to multiple reports. The New York Post originally reported the pending lease deal.
Construction on the BIG-Bjarke Ingels Group-designed tower has yet to get started as Tishman has awaited a deal with an anchor tenant for the property, according to a knowledgeable source. The tower will encompass a full-block stretching from West 34th to West 35th streets and from 10th Avenue to the Hudson Park and Boulevard.
The development site was assembled and acquired by Tishman Speyer in separate transactions in 2014 for a reported total of nearly $440 million. In 2016 Tishman expanded its presence in the Hudson Yards district with the purchase of two adjacent development sites at 434-444 11th Ave., for approximately $164 million.
Tishman Speyer had no comment on the reported pending lease deal when contacted by Globest.com. Pfizer spokesperson Joan Campion says, “We’re still in the process, and we expect to make an announcement either later this year or in early 2018.” Pfizer is currently headquartered at 235 East 42nd St.
In January of this year, Cushman & Wakefield announced it was selected to advise Pfizer on its global headquarters relocation, along with the sale of its current head office space at 235 and 219 East 42nd St.
Pfizer has decided to sell the properties on 42nd Street in favor of a new headquarters more reflective of its culture of collaboration and innovation with best-in-class technology to support its workforce, Cushman stated.
Josh Kuriloff, executive vice chairman with Cushman & Wakefield is the lead on the assignment. Others representing Pfizer from Cushman & Wakefield are: Adam Spies, chairman capital markets; Doug Harmon, chairman capital markets; Debra Moritz, executive managing director, global business consulting; Peyton Horn, managing director, corporate finance & investment banking and John Santora, president, tri-state region. Warren Braverman, senior managing director, is work as the relationship manager for the account for Cushman & Wakefield.