Management Consulting Group Goes West to 10 Hudson Yards
Terence Cullen Nov. 12, 2015, 12:05 p.m.
The Boston Consulting Group is the latest firm to wave goodbye to Midtown, pack up its employees and head to a bigger office on the Far West Side.
The management consulting firm announced it will be leasing 193,295 square feet at 10 Hudson Yards, according to a press release from BCG and developer Related Companies. BCG will take the 42nd through 47th floors of the 52-story tower at the corner of West 30th Street and 10th Avenue.
A Related spokeswoman declined to provide the length of the deal and the asking rent.
“The move to 10 Hudson Yards is indicative of their forward-thinking, impact-driven culture,” said Stephen Ross, the chairman of Related, in prepared remarks. “The new building will allow BCG to create a custom environment for employees that reflects their collaborative ethos, and all within a dynamic neighborhood atmosphere with first-class amenities and convenient transportation access.”
Boston-based BCG currently has more than 500 employees in New York City between two locations. It currently leases 96,500 square feet at 430 Park Avenue between East 55th and East 56th Streets, as well as subleased space at 315 Park Avenue South, where the lease ends in 2017. The company plans to increase its workforce over a five-year period following its departure from the two offices.
New offices for BCG at 10 Hudson Yards, which Related is developing with Oxford Properties Group, will have a non-corporate feel with flexible spaces, according to the release. The tenant plans on such things as open meeting areas, treadmill work stations, a grab-and-go café, as well as lounges on every floor.
“We want the new space to be a platform not only for us, but for the community we’re part of—for clients, outside guests and neighborhood groups,” said Ross Love, BCG’s New York managing partner. “We want to play a positive role in the broader community.”
The deal brings occupancy at the nearly completed 10 Hudson Yards to more than 90 percent, per the Related spokeswoman. BCG is joining Coach, L’Oreal, SAP and VaynerMedia as tenants of the 1.7-million-square-foot building. The first of several planned towers above the eastern rail yards, the structure topped out earlier this year and is slated to open in April.