Cushman & Wakefield announced today that Brookfield Office Properties Inc. (NYSE: BPO) and co-owners Broadway Partners have appointed the global real estate services firm as exclusive leasing agent for 450 West 33rd Street, a 1.7-million-square-foot office building located directly adjacent to Brookfield’s Manhattan West development site. The owners are planning a substantial overhaul of the building and will integrate it as a component of Brookfield’s 7 million-square-foot Manhattan West campus.
“Manhattan West will serve as the connector between the Midtown central business district and north Chelsea, providing direct pedestrian access between Penn Station, Highline Park and the Hudson River,” said Jerry Larkin, senior vice president of Leasing at Brookfield Office Properties. “450 West 33rd St. compliments the new development at Manhattan West, giving potential tenants flexibility in how they utilize their overall space envelope.”
450 West 33rd Street, a 16-story office building which has 400,000 square feet of available space, features 125,000-square-foot floor plates with 16-foot slab-to-slab heights, which will appeal to technology, media, design, creative and fashion tenants. Only 12 buildings in Manhattan offer floor plates of over 100,000 square feet.
The Manhattan West development is the gateway to the new 33-acre, 30-million-square-foot Hudson Yards neighborhood, which is bounded by West 42nd and 43rd Streets, 7th and 8th Avenues, West 28th and 30th Street, and Hudson River Park. The neighborhood is larger than the Rockefeller Center site and exceeds the size of the entire Dallas Central Business District. Most recently, L’Oreal USA, the world’s leading beauty company, committed to the area, joining Coach, Inc. and SAP.
The Manhattan West campus, when completed, will consist of over 7 million square feet of class A office, retail and mixed-use space. In addition, a 1.5-acre public plaza designed by Field Operations, the same landscape consultant as the Highline Park, will transect the site.
The Cushman & Wakefield team representing Brookfield’s Manhattan West campus includes Bruce Mosler, Chairman of Global Brokerage, Josh Kuriloff, Executive Vice Chairman, Mikael Nahmias, Senior Managing Director, and Ethan Silverstein, Director.
“We are excited to be working with Brookfield on this ambitious, 7-million-square-foot urban campus, which is one of the most prominent real estate development sites in the world,” said Mr. Mosler. “The site will feature state-of-the-art, environmentally friendly infrastructure in the heart of Manhattan’s fastest growing neighborhood. The campus, which will have both newly constructed office towers and a building with significant infrastructure upgrades, offers large tenants the ability to average their costs at an attractive rent. The Hudson Yards neighborhood wouldn’t be possible without the support of Mayor Michael Bloomberg, who was a big proponent of the development of Manhattan’s west side from early on and helped get support from the city, state and private corporations.”
Manhattan West is located at the nexus of New York’s public transportation systems. Nearby transit access includes major subway lines, Penn Station, The Port Authority Terminal, the PATH trains, Hudson River Ferries, the Westside Heliport, AMTRAK’s new Moynihan Station, and Grand Central Terminal via the newly extended 7 subway line.