It’s Official—New Pfizer HQ Will be in the The Spiral in Manhattan
Published: Apr 10, 2018 By Mark Terry
Pfizer has signed a 20-year lease for its new company global headquarters. It will be, as reported earlier, at The Spiral, an office tower being built by Tishman Speyer at 66 Hudson Boulevard at Hudson Yards of Manhattan.
In late 2016, Pfizer announced it planned to sell its current world headquarters in midtown Manhattan and was planning to lease modern facilities somewhere else in the city. At the time, Pfizer stated, “The move is being driven by the significant investment that would be required to bring the buildings to modern standards. In terms of capital deployment, that is not where we want to focus.”
Pfizer was founded in Brooklyn in 1840. It has been at its current headquarters at 235 and 219 East 42nd Street since 1961. “Pfizer’s history in New York City began in 1849, and we are proud to continue our commitment to the city with our move to The Spiral in Manhattan,” said Albert Bourla, Pfizer’s chief operating officer, in a statement. “In relocating our headquarters, we sought to provide our colleagues a modern, state-of-the-art headquarters that would foster greater collaboration and innovation in a vibrant neighborhood in Manhattan.”
The Spiral was designed by Danish architect Bjarke Ingels and is being developed by real estate developer Tishman Speyer. The building itself is expected to cost $3.2 billion and be 65 stories tall. It will be at 509 West 34th Street, rise 1,005 feet and span 2.85 million square feet. China’s HNA Group is one of the backers of the tower.
Pfizer will occupy 15 stories of the building, about 800,000 square feet.
The Spiral received its name from stepped terraces on all four sides of the skyscraper that will have trees on them. It spirals around the face of the building. The Spiral website describes the building as “Linking indoor to outdoor, integrating work with play and tying Manhattan’s West Side to the city and beyond.” Of its terraces, the site says they “provide each floor with a double-height amenity space that can either be connected to adjacent floors for a dynamic workspace flow, or can serve as a unique meeting space dedicated to one specific floor. Tenants enjoy spectacular morning light over Midtown, sunsets over the Hudson River, and panoramic views of Manhattan on every floor.”
As well as signing the lease, Pfizer contributed $500,000 to the Hudson Guild, a multi-service community agency for people living and working in the Chelsea area. The half-a-million dollars will be distributed over five years to support the organization’s ongoing programs and serves to low-income residents of Chelsea and the West Side. Their services include free and low-income pre-k, afterschool programs, college prep, career services, mental health counseling and meals for older adults, as well as other programs.
Pfizer’s headquarters on East 42nd Street are for sale.
“This is another great example of a major American company choosing to keep its headquarters—and thousands of good jobs—in New York City,” stated Alicia Glen, Deputy Mayor of New York City. “We thank Pfizer, a key partner in our initiative to establish New York City as the global leader in a fast-growing life sciences sector—and look forward to working with them as they deepen their commitment to New York and New Yorkers.”