Leases  ·  Office

Investment Firms Marshall Wace, ProShares Sign Leases at The Spiral in Hudson Yards

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Tishman Speyer locked in deals for two new investment firm tenants at The Spiral in Hudson Yards, according to the landlord.

Global asset manager Marshall Wace took the most space of the two, with 79,000 square feet across the entire 32nd floor and part of the building’s 33rd floor at 66 Hudson Boulevard in a relocation from 350 Park Avenue, the New York Post first reported.

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The lease is for a term of 14 years, and Marshall Wace plans to move in later this year, the landlord said. 

Tishman Speyer did not disclose the asking rent for the building, but a source with knowledge of the deal said prices range from $125 to $225 per square foot.

“The Spiral continues to attract industry-leading firms drawn to its inspiring design, biophilic elements, outstanding amenities program and dedication to health and wellness,” Tishman Speyer managing director Amir Sperling said in a statement.

Greg Conen and Sam Brodsky represented Tishman Speyer in-house, while Andrew Sachs and William Levitsky of Newmark (NMRK) negotiated on behalf of Marshall Wace. A spokesperson for Newmark did not immediately respond to a request for comment.

Aside from Marshall Wace, Bethesda, Md.-based investment firm ProShares signed a 13-year, 9,000-square-foot lease on the 28th floor to open its first New York City office in early 2024, Tishman Speyer said.

Cynthia Wasserberger and Michael Pallas of JLL (JLL) represented ProShares, while Conen and Brodsky handled the deal for the landlord. JLL did not immediately respond to a request for comment.

The two deals place leasing in the recently completed 2.8 million-square-foot and 66-story building at 75 percent occupied. Other recent migrations to the building include HSBC, Debevoise & Plimpton, AllianceBernstein, Turner Construction, Baker Tilly and Skandinaviska Enskilda Banken.

Mark Hallum can be reached at mhallum@commercialobserver.com.