The International Bank Takes 265,000 Square Feet in Iconic Midtown West Tower and Model for the Modern Collaborative Workplace
NEW YORK, (May 2, 2022) – HSBC Bank USA, N.A., and Tishman Speyer today announced that HSBC will relocate its US headquarters to The Spiral, Tishman Speyer’s 65-story office tower that is rapidly nearing completion at 66 Hudson Boulevard in Manhattan.
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.
About HSBC Bank USA
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through wealth and personal banking, commercial banking, private banking, global banking, and markets and securities services. As of the close of business on December 31, 2021 it operated wealth centers in: California; Washington, D.C.; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.
About Tishman Speyer (tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 31 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 498 properties, totaling 219 million square feet, with a combined value of over $124 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.