HSBC in Talks to Move NYC Headquarters to Hudson Yards’ Spiral
(Bloomberg) -- HSBC Holdings Plc is in talks to move its New York headquarters to a tower in the Hudson Yards district.
The London-based bank is considering a lease for roughly 250,000 square feet (23,200 square meters) of offices at the Spiral, a skyscraper being built by Tishman Speyer on Manhattan’s far west side, according to people familiar with the matter who asked not to be named because the negotiations are private. No deal is done yet and talks may fall apart.
Representatives for HSBC and Tishman Speyer declined to comment.
The Spiral, a 1,031-foot (314-meter) tall, 65-story tower that’s being constructed at 66 Hudson Blvd., is set to be completed this year. It will have 2.85 million square feet of office and retail space, cascading terraces and hanging gardens.
Much of the building has already been leased to tenants including Pfizer Inc., AllianceBernstein Holding LP and law firm Debevoise & Plimpton LLP.
HSBC has said it aims to shrink its property footprint by 40% and doesn’t plan to renew many of its city-center leases over the next few years. The bank, which is cutting costs, said in September that it expects a permanent shift toward hybrid work.
If HSBC signs a deal at the Spiral, it would be one of the biggest bank leases in Manhattan since the pandemic started. Morgan Stanley recently agreed to take roughly 400,000 square feet of additional space at Park Avenue Plaza in Midtown.
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