Deloitte Moves to New Skyscraper at Hudson Yards
In a significant real estate decision, Deloitte, a prominent player in the Big Four accounting firms, has finalized plans to relocate its North American headquarters to a new skyscraper in Hudson Yards.
Details of the Deal
Deloitte has agreed to lease approximately 800,000 square feet at 70 Hudson Yards, a development exceeding 60 stories in height. This transaction takes place in a building being developed by Related Companies and Oxford Properties, as reported by The Wall Street Journal.
The specifics about the lease terms, including duration and rental price, have not been disclosed. However, the asking rents in Hudson Yards are known to start at approximately $100 per square foot.
New Headquarters Features
This new office is anticipated to include various modern amenities such as:
- Event spaces
- Private dining areas
- A podcast studio
- An 8,000-square-foot terrace
- “Red-eye” suites for international travelers
Deloitte will vacate its current location at 30 Rockefeller Plaza as it prepares for the transition to this innovative space.
Development Timeline
While the timeline for construction has not been publicly confirmed, the Hudson Yards project is expected to break ground in June. Notably, this marks the largest ground-up office development in the U.S. since the onset of the pandemic, according to The Wall Street Journal.
Furthermore, 70 Hudson Yards is being designed to be New York City’s first zero-carbon-emission skyscraper, adding to the sustainability goals of the project.
Future Expansion Plans
The site is also linked to plans from Related and Wynn Resorts, who are interested in constructing a substantial casino complex at Hudson Yards. This $12 billion project intends to encompass a gaming resort and various public spaces, significantly dependent on the acquisition of a casino license.
Despite some local opposition, the Department of City Planning has shown support for modifications needed to facilitate this project, including an increase in proposed housing units to 4,000 to strengthen their casino licensing bid.
Market Context
The announcement of Deloitte’s move comes at a time of robust activity in Manhattan’s office leasing market. The first quarter of 2025 saw leasing reach a total of 11.4 million square feet, the highest quarterly volume since late 2019. Major leases during this period included:
- Jane Street: Nearly 1 million square feet at 250 Vesey Street
- United Nations: 425,190 square feet at 2 United Nations Plaza
- Horizon Media: 360,000-square-foot deal at 75 Varick Street