WSJ : BlackRock Plans Move To Manhattan's West Side

(RTTNews) - Blackrock Inc. (BLK), the world's largest money manager, plans to leave its current Midtown Manhattan offices for New York's west side, the Wall Street Journal reported citing people familiar with the matter.

BlackRock Inc. is expected to take space in a planned office tower known as 50 Hudson Yards. The building site sits within a large new development along the Hudson River built by Related Cos. and Oxford Properties Group. The asset manager has also been considering another nearby tower developed by Tishman Speyer, called The Spiral.

The firm's current lease expires in 2023. A spokesman reportedly said "BlackRock has not made a final decision regarding its 2023 real estate needs."

BlackRock's search for about 850,000 square feet of space represents one of the largest potential New York office deals at a time when banks and other financial firms continue to shrink their presence.