KPMG will soon relocate its headquarters to Two Manhattan West, a new 58-story office skyscraper in Midtown West, on the edge of Hudson Yards. At 450,000 square feet, the transaction is the largest office deal to close in New York City this year.
Interior construction is still underway at the building, which is expected to debut in early 2023. KPMG’s office will occupy floors 13 through 24 and will accommodate a workforce of 5,500 associates.
From developer Brookfield Properties, the tower is also the final component of the six-building Manhattan West complex.
“KPMG has been based in New York since our inception on August 2, 1897, and we are proud to show our continuing commitment to this great city with our exciting new headquarters in Two Manhattan West in the vibrant Manhattan West neighborhood,” said Paul Knopp, KPMG U.S. chair and CEO. “As we celebrate our 125th anniversary and think about our firm’s future, this is an incredible opportunity to bring our people together in a custom-designed office space that will showcase our firm’s commitment to culture, innovation, wellness, and sustainability.”
Two Manhattan West. Photo by Michael Young
Two Manhattan West. Photo by Michael Young
Designed by Skidmore, Owings & Merrill, the Two Manhattan West stands 935 feet tall and comprises 1.9 million square feet. The building is also connected to Moynihan Train Hall via a protected crosswalk and offers direct access to the High Line, the Shed, Madison Square Garden, and Penn Station.
When complete, Two Manhattan West is expected to achieve LEED Gold certification.
“We are pleased to welcome KPMG to its new headquarters at Two Manhattan West,” said Brian Kingston, CEO of real estate at Brookfield. “Manhattan West continues to attract leading companies making long-term commitments to New York City and seeking sustainable properties, access to transit, and a variety of places to dine and shop.”
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Elsewhere it’s reported that this represents a 40% cut in KPMG office space in NYC.
Isn’t that relevant and reportable here?
Such an obvious omission that it’s most certainly deliberate. Do they think ignoring the problem will make it go away?
KPMG may have had a lot more space than it needed, for decades. I’m a CPA who started my public accounting career 46 years ago with KPMG predecessor
Peat Marwick Mitchell, in Manhattan. Even then, I thought they had a lot of under-utilized office space. People came and went, frequently. As a new auditor, I spent most of my time outside our NYC office, at our many clients. When I did come into PMM’s office, I took a group desk; whichever one was available. This was 1976. So, today, it could be KPMG is taking the opportunity to cut-back as they get ready to move into a new building – something they may have wanted to do years ago. Kind of like clearing-out things you accumulate over time, before you move to a new home or apartment.
Now is the time. Office space is dirt cheap now, with tons of vacancies. Now is the time to move into prime new buildings.