TPG nears deal to take office space at Manhattan’s Spiral tower

TPG is in talks to lease offices at the Spiral, a newly built tower on the west side of Manhattan that’s lured tenants including other finance firms and a major pharmaceutical company.

TPG is working on a deal with landlord Tishman Speyer to take office space ranging from 200,000 to 300,000 square feet (18,600 to 27,900 square metres), according to sources familiar with the matter who asked not to be identified citing private information.

Spokespeople for TPG and Tishman Speyer declined to comment.

The Spiral opened last year. Pfizer has its world headquarters at the tower, where HSBC Bank USA, AllianceBernstein Holding and law firm Debevoise & Plimpton are also tenants. The design by Bjarke Ingels Group features a series of cascading terraces and setbacks that twist and taper towards the sky, giving the building its name.

The tower is near Hudson Yards, the mega-project that drew some of New York’s biggest financial companies from Midtown to Manhattan’s far west side.

TPG already had a presence in New York, with a spot at 888 7th Avenue and offices at 245 Park Avenue. The asset manager has been expanding its business in recent years, most notably with its US$2.7 billion acquisition last year of credit shop Angelo Gordon. BLOOMBERG