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  #1781  
Old Posted Aug 10, 2017, 12:30 AM
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It has nothing to do with rates:

Quote:
The bank, which declined to comment for this story, has ruled out a move to downtown Manhattan, the second source said.

There will always be companies that prefer Midtown.
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  #1782  
Old Posted Aug 10, 2017, 6:56 PM
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As of today there has been another core jump.
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  #1783  
Old Posted Aug 14, 2017, 1:06 PM
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Originally Posted by NYguy View Post
It has nothing to do with rates:




There will always be companies that prefer Midtown.
Unfortunately... smh
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  #1784  
Old Posted Aug 14, 2017, 4:08 PM
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And this one has basically filled up...


https://therealdeal.com/2017/08/14/e...s-move-report/

EY moving forward with Hudson Yards move: report
Times Square is facing major vacancies as big tenants jump ship






August 14, 2017


Quote:
Accounting firm EY, formerly known as Ernst & Young, is moving forward with a deal to lease as much as 1 million square feet at Brookfield Property Partners’ 1 Manhattan West.

The Big Four accounting firm plans to leave behind its 1-million-square-foot office at RXR Realty and David Werner’s 5 Times Square, Crain’s reported. The Real Deal reported in May that the firm was a mulling a move to take office space at both 1 Manhattan West and the Rockefeller Group’s 1271 Sixth Avenue. It appears the accounting company has instead opted to keep it simple by only moving into Brookfield’s new tower.

EY is among a few tenants who are ditching Times Square for Hudson Yards. Morgan Stanley is also considering moving to the Bjarke Ingels-designed office tower, the Spiral at 509 West 34th Street. The bank, which owns and occupies 1585 Broadway and 522 Fifth Avenue, has also shown interest in 50 Hudson Yards.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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  #1785  
Old Posted Aug 14, 2017, 6:19 PM
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IS E&Y going into Tower 2? I don't think Tower 1 has enough space left.

Certainly not 1 million ft., unless another tenant is being displaced.
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  #1786  
Old Posted Aug 15, 2017, 1:28 AM
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The article mentioned that one of the reasons TS office market is on the downward spiral is because of the costumed street performers and throngs of tourists impacting office workers. I wonder if those buildings are going to be converted to hotels down the road if TS becomes unpopular with business. It would make sense that they wouldn't like TS, but I think that wouldn't bode well for the district.
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  #1787  
Old Posted Aug 15, 2017, 3:28 AM
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Originally Posted by aquablue View Post
The article mentioned that one of the reasons TS office market is on the downward spiral is because of the costumed street performers and throngs of tourists impacting office workers. I wonder if those buildings are going to be converted to hotels down the road if TS becomes unpopular with business. It would make sense that they wouldn't like TS, but I think that wouldn't bode well for the district.
I'd be petitioning the city to ban those fucking awful "performers".
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  #1788  
Old Posted Aug 15, 2017, 4:22 AM
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Quote:
Originally Posted by aquablue View Post
The article mentioned that one of the reasons TS office market is on the downward spiral is because of the costumed street performers and throngs of tourists impacting office workers. I wonder if those buildings are going to be converted to hotels down the road if TS becomes unpopular with business. It would make sense that they wouldn't like TS, but I think that wouldn't bode well for the district.

A few companies that are able and willing will relocate from Times Square, leaving behind space that will be filled by others. The amount of office space being built on the west side, downtown, and midtown east is still just a small portion of the city's office market and leasing activity. Don't worry about space there being filled, whatever the case.

As far as EY is concerned, the move would be to 1 MW, which should pretty much fill the tower. Like Related's HY developments, the spillover should jumpstart the next tower.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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