HSBC Plans U.S. HQ Relocation to Downsized 265K-sf Space at the Spiral

London-based bank HSBC has revived plans for a relocation initially considered in mid-2010. The 20-year lease for 265,000 square feet at the Spiral, 66 Hudson Boulevard, represents a significant downsizing of HSBC’s current 548,000-square-foot U.S. headquarters at 452 Fifth Avenue. In 2017, the bank opted to remain in place, signing a 5-year lease through 2025, but reinitiated discussions to relocate in the wake of the COVID-19 pandemic as employees pivoted to remote work. HSBC will be joining anchor tenant Pfizer, along with other big block tenants law firm Debevoise & Plimpton and asset manager AllianceBernstein at the tower that is about 70% leased and nearing construction completion.