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Old Posted May 8, 2014, 8:27 PM
Blaze23 Blaze23 is offline
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Join Date: Feb 2013
Location: NYC
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I can't believe how fast things might be moving.

Two developers wooing Deutsche Bank, a big tenant
http://www.crainsnewyork.com/article...k-a-big-tenant
Quote:
Tishman Speyer, the large real estate investor and developer, has quickly made itself a player in the Hudson Yards neighborhood where it just closed on an over $400 million deal to buy a development site where it can build a massive 2.85 million-square-foot tower.
The firm has met with Deutsche Bank to pitch to the European financial giant the opportunity to become the anchor tenant in what could be an over 80-story tower. That effort comes as the Related Cos. is trying to do much the same thing with the bank at the developer's planned Hudson Yards residential, commercial and retail complex nearby in the west side neighborhood.

Deutsche Bank has several offices in the city, including a large space in lower Manhattan at 60 Wall Street that several sources say it may decide to vacate. The bank's lease there stretches until 2021, but it has the option to downsize there three years from now in 2017, just enough time to deliver a new tower at either development for its occupancy.
Deutsche Bank exercised a previous right to downsize at 60 Wall St., shedding 130,000 square feet there in 2012.
The Related Cos., recently broke ground for its complex to be built mostly over the rail yards there. The developer is trying to bring Deutsche Bank to one of its towers there, likely 30 Hudson Yards, a soaring tower that will be anchored by Time Warner. Related just began construction on it.

The developer is also in the process of building 10 Hudson Yards, a new headquarters building for Coach at the south end of the rail yards site and is planning another office tower, 55 Hudson Yards, on a neighboring site across from the rail yards that is being planned to cater to law firms.
Deutsche Bank is one of several large office tenants being courted by developers in the Hudson Yards area. So far, no financial firms have committed there, though several, including Citigroup, seriously considered moving there.
Tishman Speyer was the MTA's original pick to develop the West Side rail yards in 2008, but the firm quickly backed out of the deal as the recession began to take hold. The Related Cos. stepped in and completed the transaction as the real estate market sunk into a deep recession and struck sizable leases there as the real estate market in the city rebounded in recent years.
In recent weeks, Tishman Speyer came back to the neighborhood, acquiring the large development site, which comprises the whole block between West 34th and 35th Street stretching from 10th Avenue to the new Hudson Boulevard.