HSBC to Relocate US Headquarters to Tishman Speyer's The Spiral

One of the world’s largest banking and financial services firms, HSBC will move to 265,000 square feet in the iconic new tower. HSBC will occupy three of The Spiral’s podium floors, which feature virtually column-free space, as well as a dramatic double-height space spanning half of both the 29th and 30th floors. The unique design features a two-tiered outdoor terrace with lush landscaping and sweeping views of the Hudson River from New York Harbor past the George Washington Bridge.

“As we embark on the next chapter of HSBC in the US, we believe it is the right time to relocate our hybrid workforce to a headquarters designed for the future,” said Michael Roberts, HSBC CEO, US and Americas. “This new space demonstrates our commitment to the US and is an investment in strengthening our employee and customer experience while also bringing us closer to our net zero objectives.”

As part of the 20-year lease, HSBC will open a street-level Wealth Center with a direct connection to a dedicated entrance and lobby located at the corner of West 35th Street and 10th Avenue. HSBC expects to relocate from its current Midtown offices in January 2024.

The Spiral, which is targeting a LEED Gold certification, will further HSBC’s sustainability efforts through an expected 60% reduction of the bank’s total energy consumption, a sustainable design experience, recycling and composting, adhering to NYC’s CO2 emissions guidelines, and offering SMART features throughout operations and management systems.

“The Spiral delivers a new level of human-centric design and programming at a moment when companies are making their workforces’ health and wellbeing a priority,” said Tishman Speyer CEO Rob Speyer. “While our future customers at The Spiral represent a wide range of industries, their commitment to the building demonstrates their acute understanding of what their people need to innovate and thrive at work.”

“The design of this property creates a destination with unparalleled appeal to employees,” said Matthew Astrachan with JLL, which represented HSBC in the transaction. “As The Spiral continues to attract leading firms seeking the type of extraordinary space demanded by today’s corporate leaders, we are thrilled to have been able to work with two world-class companies to bring this deal to fruition.”

Designed by BIG-Bjarke Ingels Group, The Spiral rises to 1,031 feet and features a cascading series of landscaped terraces and hanging gardens as its signature element. The terraces ascend one per floor in a spiraling motion to create a unique, continuous green pathway that wraps around the façade of the tower, supplying its occupants with readily accessible fresh air and outdoor space.

Tishman Speyer has now successfully pre-leased 70% of the 2.8 million-square-foot office tower, with occupancy anticipated in summer 2022. Pfizer, one of the world’s pre-eminent biopharmaceutical companies, will establish its global headquarters across 14 floors in The Spiral. Premier law firm Debevoise & Plimpton LLP has committed to 13 floors; AllianceBernstein has pre-leased another three-and-a-half floors; and Turner Construction also intends to create a new global headquarters across two floors.

All customers in The Spiral and their guests will have access to ZO. Clubhouse, a premier amenity center and lounge perched on the top floor of the tower. The Clubhouse will feature an open-air terrace, panoramic views of New York City, food and beverage service, and multiple spaces for meetings, conferences and events. Tishman Speyer will also incorporate its Studio Gather conference center and Studio Private flexible office product.

Located at the intersection of the High Line and the four-acre Bella Abzug Park, The Spiral encompasses an entire city block stretching from West 34th to West 35th Streets and from 10th Avenue to the park. The six-story base of the building will include a lobby with ceiling heights of up to 28 feet and entrances on Hudson Boulevard East and 10th Avenue. The base also will include approximately 18,000 square feet of first-class retail.

The Spiral is easily accessible from all five boroughs, Westchester County and New Jersey. It is in close proximity to New York’s most convenient transit hubs, including Penn Station, the Port Authority Bus Terminal, Midtown Ferry Terminal, Lincoln Tunnel and West Side Highway. The 7 Train is just steps away and three stops from Grand Central Terminal.

Peter Riguardi, Matt Astrachan, Ken Siegel, Mitch Konsker and Will McGarry of JLL represented HSBC on the transaction. Tishman Speyer was represented by its in-house leasing team.