As Amazon eyes of Brookfield Property Partner’s Two Manhattan West, another tenant is closing in on 350,000 square feet at the building.
Cravath Swaine & Moore signed a term sheet with the landlord last month, and agreed this week on the deal at the almost 2 million-square-foot building, according to the New York Post. The law firm will almost halve its office footprint when it moves from its 617,000-square-foot space at 1 Worldwide Plaza at 825 Eighth Avenue.
The law firm is being represented by CBRE, and Brookfield by Cushman & Wakefield.
The 62-story tower is part of Brookfield’s 5.4 million square foot Manhattan West mixed-use development, for which it partnered with the Qatar Investment Authority. The developer is looking for a $1.4 billion construction loan to build Two Manhattan West.
After receiving interest from Amazon for a potential 100,000-square-foot space in the building, Brookfield is seeking nearly $80 million in real estate tax exemptions, The Real Deal reported Tuesday. [NYP] — David Jeans