{"id":3782,"date":"2024-11-07T05:43:18","date_gmt":"2024-11-07T05:43:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/blog\/?p=3782"},"modified":"2025-11-12T12:46:44","modified_gmt":"2025-11-12T12:46:44","slug":"tpg-capital-secures-lease-at-the-spiral-in-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/","title":{"rendered":"TPG Capital Secures Lease at The Spiral in Manhattan"},"content":{"rendered":"

TPG Capital has inked a deal to move into The Spiral office building skyscraper at 66 Hudson Blvd. in Manhattan. Signing for 301,276 square feet across eight floors, the deal marks the second-largest relocation in Manhattan in October, according to The New York Post<\/em><\/a>. The largest was Bloomberg\u2019s lease for 924,876 square feet at 919 Third Ave.<\/p>\n

This puts The Spiral, which has 2.8 million square feet of total office space, at 94% leased. That\u2019s a solid achievement for a property that opened less than two years ago. It also showcases the appeal of office space in Hudson Yards, which was once dubbed \u201cFar West Midtown.\u201d Other tenants at The Spiral include, among others, Turner Construction and HSBC, both of which list the address as their U.S. headquarters.<\/p>\n

The building\u2019s name comes from its distinctive, ziggurat silhouette and stepped terraces designed by the Bjarke Ingels Group (BIG). Inside, the property offers amenities like the Zo Clubhouse, studio spaces, dining options, a bicycle room and EV parking.<\/p>\n

For TPG, this move from 888 Seventh Ave. and 245 Park Ave. will make for a moderate expansion totaling 20,000 square feet for the global asset management firm.<\/p>\n

Manhattan Office Outlook: Occupancy Up, Sales Prices Lag as Construction Slows<\/h2>\n

The Manhattan office market has seen an improvement in occupancy: The latest national office report<\/a> from CommercialCafe notes a decrease in the vacancy rate by 90 basis points year-over-year to 16.8% now.<\/p>\n

Manhattan also remains the most expensive office market in the country with an average asking rent of $67.93 per square foot. Meanwhile, office space transactions have held steady with $2.7 billion in office sales recorded through the end of September to top all other markets.<\/p>\n

However, when it comes to office sale prices, Manhattan no longer leads the pack. Instead, it now ranks fourth behind Austin, Texas ($379 per square foot); Los Angeles ($345); and Miami ($335). Office properties also continue to change hands at discounted rates. For example, the September sale of a 270,000-square-foot Midtown East building, including retail space, for $65 million was just one-third of its $180 million valuation in 2019.<\/p>\n

Construction has also slowed with the pipeline dropping from 6.5 million square feet a year ago to just 2.6 million square feet currently under construction.<\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Office space in New York City<\/a><\/td>Office space in Phoenix<\/a><\/td>Office space in San Francisco<\/a><\/td>\n<\/tr>\n
Office space in San Antonio<\/a><\/td>Office space in Atlanta<\/a><\/td>Office space in San Diego<\/a><\/td>\n<\/tr>\n
Office space in Manhattan<\/a><\/td>Office space in Austin<\/a><\/td>Office space in Las Vegas<\/a><\/td>\n<\/tr>\n
Office space in Fort Worth<\/a><\/td>Office space in Boston<\/a><\/td>Office space in Seattle<\/a><\/td>\n<\/tr>\n
Office space in Portland<\/a><\/td>Office space in Miami<\/a><\/td>Office space in Philadelphia<\/a><\/td>\n<\/tr>\n
Office space in Dallas<\/a><\/td>Office space in Chicago<\/a><\/td>Office space in Denver<\/a><\/td>\n<\/tr>\n
Office space in Houston<\/a><\/td>Office space in Los Angeles<\/a><\/td>Office space in Arlington<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"

TPG Capital has inked a deal to move into The Spiral office building skyscraper at 66 Hudson Blvd. in Manhattan. Signing for 301,276 square feet across eight floors, the deal marks the second-largest relocation in Manhattan in October, according to The New York Post. The largest was Bloomberg\u2019s lease for 924,876 square feet at 919 Third Ave. This puts The Spiral, which has 2.8 million square feet of total office space, at 94% leased. That\u2019s a solid achievement for a property that opened less than two years ago. It also showcases the appeal of office space in Hudson Yards, which…<\/p>\n","protected":false},"author":3163,"featured_media":3783,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nTPG Capital Inks Lease at The Spiral in Manhattan | CommercialSearch<\/title>\n<meta name=\"description\" content=\"TPG Capital has secured 301,276 square feet at The Spiral skyscraper in Manhattan, marking the second-largest relocation in the market for October.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TPG Capital Inks Lease at The Spiral in Manhattan | CommercialSearch\" \/>\n<meta property=\"og:description\" content=\"TPG Capital has secured 301,276 square feet at The Spiral skyscraper in Manhattan, marking the second-largest relocation in the market for October.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialSearch\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-07T05:43:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-12T12:46:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1300\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Matthew Preston\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Matthew Preston\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/\",\"name\":\"TPG Capital Inks Lease at The Spiral in Manhattan | CommercialSearch\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg\",\"datePublished\":\"2024-11-07T05:43:18+00:00\",\"dateModified\":\"2025-11-12T12:46:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/44a8a1fa2b4207afba1c2bb0ef1e2d80\"},\"description\":\"TPG Capital has secured 301,276 square feet at The Spiral skyscraper in Manhattan, marking the second-largest relocation in the market for October.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg\",\"width\":1300,\"height\":800,\"caption\":\"View looking up at The Spiral building in Hudson Yards\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"TPG Capital Secures Lease at The Spiral in Manhattan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/\",\"name\":\"CommercialSearch\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/44a8a1fa2b4207afba1c2bb0ef1e2d80\",\"name\":\"Matthew Preston\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6a6960d93eec870b7a4ba3e017196ffd2493e00eae6d176dceb85ed1d0847184?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6a6960d93eec870b7a4ba3e017196ffd2493e00eae6d176dceb85ed1d0847184?s=96&d=mm&r=g\",\"caption\":\"Matthew Preston\"},\"description\":\"Matthew has covered commercial real estate for CommercialCafe since 2022. He focuses on the office and industrial sectors, reporting on leasing, development, and investment across national markets and individual submarkets. His work draws on data and original research. He also writes about demographic shifts and urban innovation in U.S. cities. The New York Times, The Real Deal, Bisnow, The Business Journals, and Yahoo Finance have cited his reporting.\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/author\/matthew-preston\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"TPG Capital Inks Lease at The Spiral in Manhattan | CommercialSearch","description":"TPG Capital has secured 301,276 square feet at The Spiral skyscraper in Manhattan, marking the second-largest relocation in the market for October.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/","og_locale":"en_US","og_type":"article","og_title":"TPG Capital Inks Lease at The Spiral in Manhattan | CommercialSearch","og_description":"TPG Capital has secured 301,276 square feet at The Spiral skyscraper in Manhattan, marking the second-largest relocation in the market for October.","og_url":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/","og_site_name":"CommercialSearch","article_published_time":"2024-11-07T05:43:18+00:00","article_modified_time":"2025-11-12T12:46:44+00:00","og_image":[{"width":1300,"height":800,"url":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg","type":"image\/jpeg"}],"author":"Matthew Preston","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Matthew Preston","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/","url":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/","name":"TPG Capital Inks Lease at The Spiral in Manhattan | CommercialSearch","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg","datePublished":"2024-11-07T05:43:18+00:00","dateModified":"2025-11-12T12:46:44+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/44a8a1fa2b4207afba1c2bb0ef1e2d80"},"description":"TPG Capital has secured 301,276 square feet at The Spiral skyscraper in Manhattan, marking the second-largest relocation in the market for October.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg","width":1300,"height":800,"caption":"View looking up at The Spiral building in Hudson Yards"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/blog\/tpg-capital-secures-lease-at-the-spiral-in-manhattan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/blog\/"},{"@type":"ListItem","position":2,"name":"TPG Capital Secures Lease at The Spiral in Manhattan"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/blog\/#website","url":"https:\/\/www.commercialsearch.com\/blog\/","name":"CommercialSearch","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/44a8a1fa2b4207afba1c2bb0ef1e2d80","name":"Matthew Preston","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6a6960d93eec870b7a4ba3e017196ffd2493e00eae6d176dceb85ed1d0847184?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6a6960d93eec870b7a4ba3e017196ffd2493e00eae6d176dceb85ed1d0847184?s=96&d=mm&r=g","caption":"Matthew Preston"},"description":"Matthew has covered commercial real estate for CommercialCafe since 2022. He focuses on the office and industrial sectors, reporting on leasing, development, and investment across national markets and individual submarkets. His work draws on data and original research. He also writes about demographic shifts and urban innovation in U.S. cities. The New York Times, The Real Deal, Bisnow, The Business Journals, and Yahoo Finance have cited his reporting.","url":"https:\/\/www.commercialsearch.com\/blog\/author\/matthew-preston\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/The-Spiral.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts\/3782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/users\/3163"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/comments?post=3782"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts\/3782\/revisions"}],"predecessor-version":[{"id":6007,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts\/3782\/revisions\/6007"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/media\/3783"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/media?parent=3782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/categories?post=3782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/tags?post=3782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}