Tishman Speyer says it will begin construction of a 65-story office tower in Manhattan in June.
The building, called The Spiral, will be built at 66 Hudson Blvd.. The 2.8 million sq. ft. project secured the necessary financing as well as finalized an 800,000 sq. ft. lease with Pfizer, which agreed to relocate its global headquarters here under a 20-year lease agreement.
In a statement, Tishman said the $3.7-billion project will be financed with $1.9 billion in equity from the company and more than a dozen other institutional, pension fund and individual investors, as well as a $1.8 billion construction loan from Blackstone Mortgage Trust.
Designed by BIG-Bjarke Ingels Group, The Spiral will rise to 1,031 feet and feature a cascading series of landscaped terraces and hanging gardens. The terraces will ascend, one per floor, in a spiraling motion to create a continuous green pathway that wraps around the façade of the tower and supplies occupants with an outdoor space.
The six-story base of the building will include a lobby with ceiling heights of up to 28 feet and main entrances on Hudson Blvd. E. and 10th Ave. The base also will include approximately 25,000 sq. ft. of first-class retail.
Turner Construction will serve as the construction manager for the project, which is expected to generate approximately 7,600 construction jobs.
Construction is expected to be completed in 2022.