Financial services giant Moody’s Corporation has announced its decision to move its global headquarters to Brookfield Place in Lower Manhattan. This significant relocation underscores the company’s enduring commitment to New York City, where it has maintained a presence for over 115 years. The move is anticipated to be completed by 2027.
Key Takeaways
- Moody’s will occupy approximately 460,000 square feet at 200 Liberty Street within the 40-story tower at Brookfield Place.
- The relocation signifies a strong commitment to New York City, Lower Manhattan, its employees, and the future of its business.
- Brookfield Place is recognized as a premier workplace, and Moody’s will join a distinguished group of leading companies.
- The ground lease for the Brookfield Place complex has been extended by Brookfield Properties.
A New Chapter at Brookfield Place
Moody’s will transition its global headquarters to 200 Liberty Street, a prominent address within Brookfield Place. This move represents a continuation of the company’s long-standing relationship with New York City, spanning more than a century. The new headquarters will encompass roughly 460,000 square feet in the 40-story tower, with the relocation scheduled for 2027.
Brookfield Properties Welcomes Moody’s
Ben Brown, co-president of Brookfield Real Estate, expressed enthusiasm about Moody’s decision. He highlighted Brookfield Place as one of the world’s leading workplaces and stated that Moody’s choice to establish its global headquarters there demonstrates a robust commitment to New York City, Lower Manhattan, its workforce, and its business future. Brown added that Moody’s will be joining an elite roster of companies at the prestigious Brookfield Place complex.
Transaction Details and Lease Extension
While the specific terms of the transaction were not disclosed, Moody’s was represented in the deal by Cushman & Wakefield and Fried Frank. In a separate development, the Battery Park City Authority has finalized an agreement with Brookfield Properties to modify and extend the ground lease for the expansive 9.4-million-square-foot Brookfield Place complex. This agreement extends the ground lease term from its original expiration in 2069 to 2119.