{"id":34595,"date":"2015-04-16T07:18:37","date_gmt":"2015-04-16T11:18:37","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=34595"},"modified":"2015-04-16T07:18:37","modified_gmt":"2015-04-16T11:18:37","slug":"brookfield-property-partners-lp-nysebpy-to-start-building-manhattan-tower-after-signing-lease-with-skadden","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/brookfield-property-partners-lp-nysebpy-to-start-building-manhattan-tower-after-signing-lease-with-skadden-34595","title":{"rendered":"Brookfield Property Partners LP (NYSE:BPY) To Start Building Manhattan Tower After Signing Lease With Skadden"},"content":{"rendered":"

The prominent real estate giant Brookfield Property Partners LP (NYSE:BPY)<\/strong> has announced its plans for Manhattan Tower. According to reports<\/a>, the company has announced that it would start the construction work at Manhattan Tower after signing a lease with Skadden for close to a quarter of the skyscraper.<\/p>\n

Insights On the Announcement:<\/strong><\/p>\n

Brookfield Property made this announcement on Tuesday stating about the 7 million-square-foot Manhattan West project. The newly launched project is a part of company’s efforts to draw the Midtown business district west towards the famous Hudson River. In simple words, it’s another effort put in by the real estate giant to transform the once-industrial Hudson Yards area into a neighborhood for commerce and housing business. Some of the office tenants in this area are Time Warner Inc., Coach Inc., etc. People can also find retail stores like Neiman Marcus in this locality.<\/p>\n

As per the reports, the Skadden Law Firm has agreed to execute a 20 year lease for 550,000 square feet property. It’s a 67-story tower, in which the lease has been signed for floors 28 to 43 with respect to the long-term growth objectives.<\/p>\n

The management team of Brookfield Property Partners LP (NYSE:BPY)\u00a0is delighted to announce this deal. According to Dennis Friedrich, CEO, Brookfield\u2019s office division, it’s going to be an exciting project. Manhattan West will come out like an entirely new neighborhood and will surely redefine the west midtown skyline in the coming years. He made public this information in a statement lately. He is cocksure that next four years will bring revolutionary change in the area around this property. It would have become home to many exceptional companies including Skadden by the time it opens in 2019.<\/p>\n

It’s the second time in less than last twenty years when Skadden will become a tenant in a new Manhattan office neighborhood. The company looks forward to this new opportunity.<\/p>\n","protected":false},"excerpt":{"rendered":"

The prominent real estate giant Brookfield Property Partners LP (NYSE:BPY) has announced its plans for Manhattan Tower. 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