The so-called “flight to quality” is more accurately a stampede, as evidenced by another defection from a traditional Midtown corridor to the distant West Side.
The latest to leave a mid-20th century office tower for a new and well-equipped one is the Spanish financial services firm BBVA. The bank signed for 74,000 square feet at Brookfield’s Two Manhattan West and will leave 42,000 square feet at Fisher Brothers’ 1345 Sixth Ave., even though that building has been completely modernized in recent years.
Regina Gil, head of corporate and investment banking at BBVA in the United States, described its new headquarters as “a privileged building in a very attractive location, which will provide the best possible experience to our team in New York. “This is another step in our growth plans in the US as well as our commitment to sustainability by choosing a building powered by renewable energy.”
Two Manhattan West gets all of its electricity needs from upstate run-of-the-river hydroelectric facilities.
The 58-story tower will open in the first quarter of 2024. Its 1.9 million square feet are already more than 80% leased. Tenants include KPMG and law firms Cravath, Swaine & Moore and Clifford Chance.
Sister tower One Manhattan West, which was completed first, is 99% leased.
