On December 9, 2025, Morgan Stanley has placed approximately 250,000 square feet of office space up for sublease at One New York Plaza, a move that puts a significant block of space on the Lower Manhattan market despite the bank’s firm return-to-office stance.
Key Aspects
The listing covers six floors at the 50-story tower and represents over 25 percent of the bank’s total footprint in the building. The term runs through December 2034, part of a renewal signed in 2019. Despite this reduction, Morgan Stanley remains the largest tenant at the 2.5 million-square-foot property. Real estate professionals attribute the decision to a strategic reevaluation of spatial needs to eliminate underutilized areas rather than a shift in workplace policy.
This addition hits the market during a period of tightening inventory. The article notes that total sublease availability in Manhattan has plummeted to 13 million square feet from a peak of 24.4 million in 2023. High-quality sublet space remains in strong demand for tenants seeking flexibility and speed, evidenced by recent major deals involving BlackRock at 50 Hudson Yards and ScaleAI at One World Trade Center.
About CORFAC International – New York
CORFAC International – New York, an extension of CORFAC International delivers over 90 years of Expertise for Commercial Real Estate in the Greater NY Metro Area. Comprised of a partnership of WCRE & Chilmark Real Estate Services, CORFAC International – New York provides practical guidance, analyzes crucial transaction details for optimal workspaces and deals, by leveraging market knowledge to drive client success. As committed advocates, we deliver measurable results, serving global clients with expert advisory and property management. We match your dedication with proven expertise.
