EY, formerly Ernst & Young, is in late stages of negotiations for 600,000 square feet at Brookfield Property Partners’ 1 Manhattan West, a source with intimate knowledge of the situation told Commercial Observer. No other details were immediately available.
The New York City office of the professional services firm, headquartered in London, would relocate from 1 million square feet at RXR Realty and David Werner’s 5 Times Square. Cushman & Wakefield is representing Brookfield in the negotiations, and Newmark Knight Frank is working on behalf of EY.
The Real Deal reported in May that the company was mulling taking 500,000 square feet or more at the property. The New York Post reported last month that the figure was more like 400,000 square feet. Crain’s New York Business put the square footage at as much as 1 million.
Brookfield’s 67-story 2.1-million-square-foot 1 Manhattan West is slated for completion in 2019. Other tenants to sign on include law firm Skadden, Arps, Slate, Meagher & Flom, which will anchor the building with 550,000 square feet, as well as the National Hockey League and trial firm McKool Smith. Last month management consulting company Accenture signed a 250,000-square-foot, 15-year lease at the property.
One Manhattan West is part of Manhattan West, Brookfield’s eight-acre, six-building mixed-use development. The project made headlines this month as Amazon signed a 360,000-square-foot deal at 5 Manhattan West, the landlord announced on Sept. 21.
A spokesman for Brookfield declined to comment. A spokesman for EY said the company does “not have any additional information or insights to share at this time. If we did, we would provide a statement.”