Leases  ·  Office

BBVA Signs 74K-SF Lease to Relocate to 2 Manhattan West

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Banco Bilbao Vizcaya Argentaria, better known as BBVA, is moving its New York City headquarters to the Far West Side of Manhattan.

The Spanish bank signed a lease for 74,000 square feet across two floors of Brookfield Properties2 Manhattan West, the New York Post first reported.

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BBVS plans to move its 350 New York City employees from Fisher Brothers1345 Avenue of the Americas, where it leases 42,000 square feet, in the fourth quarter of 2024, according to Brookfield.

Brookfield did not disclose the length of the lease or the asking rent in the deal. Average asking rent in Midtown in the third quarter of 2023 was $82.68 per square foot, according to a report from CBRE.

“This is one more step in our growth plans in the U.S., as well as in our commitment to sustainability, by choosing a building powered by renewable energy,” Regina Gil Hernández, head of BBVA corporate investment and banking in the U.S., said in a statement.

Duncan McCuaig, Mikael Nahmias, David Caperna and Daniel Roberts represented Brookfield in-house while Paul Ferraro of Cushman & Wakefield (CWK) and Joseph Messina of JLL (JLL) negotiated on behalf of BBVA. The tenant brokers did not immediately respond to a request for comment.

Other tenants in the recently completed, 1.9 million-square-foot building include international law firm Crowell & Moring, which signed a deal for 71,000 square feet on two floors in December 2022, as well as law firm Clifford Chance, which took 144,000 square feet in June 2022.

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