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Brokerage
Posted: December 12, 2023
Wells Fargo plans 445,000 s/f
expansion at Hudson Yards
Manhattan, NY Wells Fargo has released its formal plans to expand its Hudson Yards office footprint and create a better, more collaborative employee experience with the purchase of additional space at Hudson Yards. This transaction represents a significant investment in the New York City market and an opportunity to bring most locally based Wells Fargo employees together in one location for improved collaboration and access to new, more modern workspaces, technology, and amenities.
Wells Fargo has engaged the Related Companies, developers of Hudson Yards, to convert 20 Hudson Yards into a 445,000 s/f office environment over a three-year period. Approximately 2,300 employees are expected to move to the new space from the company’s current office space at 150 East 42nd St. beginning in late 2026. These employees will join the Wells Fargo employee base already located there.
Wells Fargo’s new offices will include a variety of workspace settings for collaborative work and access to leading amenities. Plans include developing a food hall for employees with a rotating local restaurant program, as well as an all-day coffee bar with views of the Vessel and the Backyard at Hudson Yards. The building will also include a dedicated entrance on 10th Ave. and naming rights on the exterior of the property.
“This investment further solidifies our long-standing commitment to NYC and will help us create an enhanced, more collaborative environment for our NYC-based employees,” said Wells Fargo CEO Charlie Scharf. “Our new space at Hudson Yards will allow us to bring our Manhattan employees together in one place where they can work in a new, modern workplace as we work to build a stronger company.”
“This significant expansion demonstrates both the success of Hudson Yard’s modern lifestyle offices and live, work, play environment, as well as the power of New York City to meet the evolving needs of the world’s most innovative companies,” said Jeff Blau, CEO of Related Companies. “New York City is once again a magnet for the best talent, and industry leaders like Wells Fargo recognize the long-term advantage of having dynamic office space at Hudson Yards.”
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