The Time Warner Center will soon to be no more (in name, at least): Following the announcement that Time Warner would move its headquarters from Columbus Circle to Hudson Yards, developer Related Companies has snagged a new tenant for the building: Deutsche Bank, which plans to move from the Financial District to Midtown.
Bloomberg first reported the news, and a spokesperson for Related confirmed the move. When Deutsche Bank moves in, its office soace will be known as One Columbus Circle, and renderings for the bank’s new HQ show a modern office space, with terraces and open floorplans, along with a trading floor.
“Related transformed Columbus Circle into a thriving mixed-use neighborhood and a world-class destination,” Jeff T. Blau, the CEO of Related, said in a statement. “We are very pleased to work with our long term partner, Deutsche Bank, as they reimagine their North American headquarters.”
Deutsche Bank currently calls the postmodernist skyscraper at 60 Wall Street home; the firm purchased the building, designed by Kevin Roche John Dinkeloo & Associates, in 2001 (though it no longer owns the property), and has occupied the space since its former HQ at 130 Liberty Street was damaged during 9/11. The company has reportedly been looking to change up its space for several years, with renovations at 60 Wall allegedly planned back in 2016.
A source familiar with the move tells Curbed that Deutsche Bank is expected to vacate its current HQ by the third quarter of 2021, with the move to Columbus Circle complete by 2022. The bank will lease 1.1 million square feet within the complex.
As for the fate of the Shops & Restaurants at Columbus Circle—which occupy the building’s first few floors, and include a Whole Foods and Per Se—Related isn’t talking; the firm had no comment on what will happen to that space.
Renderings for the new office space show a redesigned lobby with Deutsche Bank’s branding at street level, while a source provided Curbed with a different rendering that shows the building’s exterior with a new “Deutsche Bank Center” sign, suggesting that any changes would be purely cosmetic.
A spokesperson for Deutsche Bank provided Curbed with the following statement:
“After a full evaluation of our real estate strategy, Deutsche Bank has decided to relocate its regional headquarters in New York from its current location at 60 Wall Street to a new location at One Columbus Circle. The relocation is an investment in our clients, in our employees and in our future long-term presence in the US.”
Meanwhile, Time Warner is expected to occupy 1.6 million square feet at 30 Hudson Yards, the megaproject’s tallest skyscraper (also, coincidentally, developed by Related), bringing brands it owns—including CNN and Warner Brothers—along with it.
Correction: An earlier version of this piece stated that the Time Warner Center would rebrand as One Columbus Circle; it is only Deutsche Bank’s office space that will be known as One Columbus Circle. Curbed regrets the error.