Debevoise & Plimpton has signed a 530,000-square-foot lease at Tishman Speyer’s office development at 66 Hudson Boulevard. The 20-year lease will give the law firm floors 40 through 52 of the building, according to the WSJ.
How the deal came together: Strong leasing velocity! Debevoise was nearing a deal at 50 Hudson Yards before Facebook swooped in to take their space as part of a 1.5 million square-foot deal with Related. The law firm plans to move from their current office at SL Green’s 919 Third Avenue upon Tishman completing the Far West Side project in 2022.
Other tenants: Pfizer inked an 800,000 square-foot lease after selling its East 42nd Street headquarters, and AllianceBernstein has also agreed to take 189,000-square-feet at the building. The 65-story office building will span 2.85 million square feet, and has a project cost of $3.7 billion.
Tech industry rises: Technology companies surpassed the financial-services sector in leasing activity last, signing deals for more than 5.6 million square feet, compared with about 5.5 million square feet for finance firms.