༺Welcome to what may become the future Deutsche Bank Center.
The German bank has decided to move its regional headquarters from Lower Manhattan to 1.2 million sqꦬuare feet at One Columbus Circle, The Post has learned.
“After a full evaluation of our real estate strategy, Deutsche Bank has decided to relocate its regional headquarters in New York from its current loc🥂ation at 60 Wall Street to a new location at One Columbus Circle,” a spok🧸esman for the bank said in a statement.
A term sheet has been signed, sources said — not a lease, which could be the reason Deutsche 🍸Bank declined to provide other deta𓆉ils like whether it would get naming rights to the Time Warner Center.
This reporter broke news of the move on Twitter.
Time Warner is planning to move from its namesa🥂ke building to the new 30 Hudson Yards🦩 in 2021.
Related Cos. had developed Time Warner Center an🌠d sold the media company its office space — but bought it back when Time Warner agreed to move to Related’s new project at Hudson Yards.
The asking rent at the Time Warner Center was $135 🐻perꩲ square foot.
“Related transformed Columbus Circle into a thriving mixed-use neighborhood and world-class d🎐estination. We are very pleased to work with our long-term partner as they re-imagine their north American headquarters,” sꦫaid Jeff T. Blau, chief executive of Related Cos.
The first term of Deutsche’s lease at๊ 60 Wall St. ends in June 2022. The bank had several renewal options and the building had new owner🤪s that laid out the red carpet for a lease renewal.
But ꦬthe bank “wanted a fresh start,” on🌳e source said.
It loves the thriving Upperꦬ West Side neighborhood around the Time Warner Center — with its European feel as well as the stunning Central Park, river and city views, sources said.
The One Columbus economics will also work, sources said. Deutsꦚche Bank wꦉill relocate roughly 500,000 square feet of occupancy to a new building in Jacksonville, Fla., where it already has a large presence.
Peter Riguardi, chairman and president of the JLL’s tri-state region, who represented Deutsche Bank, declined to comment𓄧. He had been pitching the Time Warner Center on behalf of Related Cos. but recused himself on this transaction.
“This is a decision they made because of their business and financial health,” said a disappointed Jessica Lappin, president of the Alliance for Downtown, who sa𒊎id she believed the bank’s employees wanted to remain in the area. “They are retrenching and reorganizing, and (that’s) why I can see being the anchor tenant a💎t 2 World Trade was a bridge too far for them.”
Thඣe 2 World Trade Center tower would have been developed by Larry Silꦦverstein, but it has taken several years to flesh out details, build and turn over for a move in.
🅠“While today’s news is di🔴sappointing, we are very happy with Downtown’s growing momentum and optimistic about the World Trade Center’s continued success,” said a Silverstein spokesman. The area will welcome 4,000 GroupM and 2,000 Spotify employees to 3 WTC and 4 WTC, respectively, over the rest of the year.
Originally developed in 1987 for what was then called JPMorgan & Co., 60 Wall Street would have been the leas🦂t expensive ch📖oice, sources said. But the 1.6 million-square-foot building would have required an entire redevelopment of its trading floors and now 30-year-old infrastructure.