Wells Fargo has announced plans to consolidate most of its New York office presence across two buildings in Hudson Yards. Developed by Related Companies, the project involves the conversion of three stories of retail space in 20 Hudson Yards into 445,000 square feet of new office space, providing an easy link to the company’s existing nine-story footprint in the connecting 30 Hudson Yards supertall skyscraper. Wells Fargo reportedly purchased the former Neiman Marcus store, which closed in 2020, for $550 million and plans to open the new office in three years.
Rendering of plaza, via Wells Fargo
This redevelopment will transform the vacant space into a modern, advanced office environment. Around 2,300 employees from Wells Fargo’s current office at 150 East 42nd Street are expected to relocate to Hudson Yards starting in late 2026, joining their colleagues already based there.
Render of the exterior of the property, via Wells Fargo
The planned office space will feature collaborative workspaces amenities such as a food hall with a rotating local restaurant program and an all-day coffee bar offering views of Hudson Yards’ landmarks. The company will also have a dedicated entrance on Tenth Avenue and naming rights for the exterior of the property.
Render of interior space, via Wells Fargo
“This significant expansion demonstrates both the success of Hudson Yard’s modern lifestyle offices and live, work, play environment, as well as the power of New York City to meet the evolving needs of the world’s most innovative companies,” said Jeff T. Blau, CEO of Related Companies. “New York City is once again a magnet for the best talent, and industry leaders like Wells Fargo recognize the long-term advantage of having dynamic office space at Hudson Yards.”
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What do you do with a failed shopping mall? What idiot thought that a shopping mall was a good idea there?
The mall, and Hudson yards in general, seems pretty crowded every time I am over there. I think Nieman Marcus was a casualty of the pandemic and an oversupply or luxury department stores in Manhattan.
Look for shopping bags, not people.
The mall was originally overbuilt for demand. Replacing the empty Neiman Marcus space and the already closed-off top floors with an active use should add additional vibrancy to the now remaining mall which has been showing increasing signs of activity over the past year.
Great news for Hudson Yards and the employees of Wells Fargo. Well played!
With the huge signs, this thoroughly corrupt bank is surprisingly proud of their name.
But when will taller glass be added to the Vessel so that we can all visit it again? Without people being able to jump off it of course.
Wow, prime location.
Malls have not done so well in Manhattan.
How is that legally possible? The building permit should come with a designated usage and you should not be able to change that. Imagine all the retail space of Fifth Avenue was turned into offices and apartments, because those generate more money. In European countries that is not possible.
All of Hudson Yards is zoned for C6-4. From the City’s Zoning website:
“C6 districts permit a wide range of high-bulk commercial uses requiring a central location. Most C6 districts are in Manhattan, Downtown Brooklyn and Downtown Jamaica; a C6-3D district is mapped in the Civic Center area of the Bronx. Corporate headquarters, large hotels, department stores and entertainment facilities in high-rise mixed buildings are permitted in C6 districts.”
That is, there is no such thing as a “mall” zoning. A department store or a corporate office can both occupy C6 zoning.
I recall in the 1970s there was great concern over Fifth Ave. north of 42nd filling up with banks and airline offices (if you can remember those quaint things). Fifth below 42nd lost a great deal of retailing such as B. Altman, Arnold Constable, Sloane’s furniture, Kress, Lord & Taylor to name but a few places. It seems the prime retailing has migrated toward 57th St. over the years.