Taconic's One Grand tower stalls as Hudson Square firms seek immediate space
The 430,000-sq-ft One Grand office tower in Hudson Square remains without a tenant, as companies prioritize ready-to-move space.
Hudson Square, a rapidly expanding Manhattan subdistrict, has seen leasing activity jump from under half-million square feet in 2024 to more than 1.5 million this year, attracting major tech, AI and media tenants. Amid this boom, Taconic Partners and JLL’s proposed One Grand tower—spanning 430,000 square feet at Grand and Varick streets—has yet to lock in a tenant. JLL agents, including Kristen Morgan, explain that companies are eager for immediate occupancy and cannot wait the 36 months needed to construct the new building.
Recent high-profile leases, such as Disney’s headquarters at 7 Hudson Square and Anthropic’s lease for 330 Hudson, involve retrofitting older properties rather than new builds. Taconic president/COO Colleen Wenke says the project can proceed without an anchor tenant, as negotiations with multiple suitors are ongoing. The tower will feature open floor plates, large windows, 20,000 sq ft of outdoor space, a roof deck and extensive amenities, targeting tech firms willing to customize their environment. Asking rents average $185 per square foot.
Why it matters
The delay highlights how fast-moving tech firms are reshaping Manhattan office demand, favoring ready space over new construction.
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