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New York & Tri-State  + Office  |  January 29, 2019
Paul Bubny
By: Paul Bubny

Brookfield Launches Second Manhattan West Tower on Spec

Brookfield Properties is proceeding on a second Manhattan West office tower with no pre-leasing, Crain’s New York Business reported. The speculative development of the $2-billion 2 Manhattan West contrasts with 1 Manhattan West, for which Brookfield began construction only after getting an anchor tenant.

“We know firsthand that space in 2 Manhattan West is highly sought-after, and we’re moving ahead,” Brookfield EVP Ben Brown told Crain’s. The developer is betting it can lease most or all of the 1.95-million-square-foot tower before it’s completed.

1 Manhattan West is mostly filled as it nears completion, and Brookfield’s redevelopment of 450 W. 33rd St. into 5 Manhattan West has also been a leasing success.

However, 2 Manhattan West will face strong competition from other new construction on Manhattan’s Far West Side. Related is adding another tower at Hudson Yards, and both Tishman Speyer and a Moinian Group/Boston Properties partnership are building nearby.

For comments, questions or concerns, please contact Paul Bubny

Read More News Stories About: Brookfield Properties, Tishman Speyer
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Read more at Crain's New York

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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