Morgan Stanley is mulling a relocation of its headquarters from Times Square to Hudson Yards.
Morgan Stanley appears to be eying about 2 million square feet of space at 50 Hudson Yards, located at 10th Avenue and 33rd Street in Manhattan.
“We routinely review potential options for upgrading our workspaces,” a spokesperson said in a statement. “As we consider plans to continue to upgrade our current office space, we are also in the very early stages of evaluating potential alternatives. We anticipate a lengthy timeline before any decisions are made.”
Morgan Stanley, which is led by Chairman and CEO James Gorman, has been based in its current global headquarters at 1585 Broadway since 1995.
The tower was designed by Foster + Partners and is part of a $25 billion project in the area that includes apartments and shops.
Upon completion, the skyscraper should be the fourth-largest office tower in Manhattan, the architecture firm says.
In December, BlackRock said it inked a plan to move into 850,000 square feet on 15 floors of the building after it is completed in 2022.
BlackRock received a tax credit from the state of New York worth $25 million with the proviso that it generates 700 new jobs and maintain a workforce of 2,700 for a decade, Reuters reported at the time.
In addition to other tenants, such as Wells Fargo Securities and the Boston Consulting Group, CNN has made plans to relocate to Hudson Yards.
— Check out 20 Wealthiest Places in America on ThinkAdvisor.