Morgan Stanley Building

The Morgan Stanley Building at 1585 Broadway is the headquarters of Morgan Stanley, on the west side of Broadway, north of Duffy Square in the Times Square neighborhood of midtown Manhattan, New York City.HistoryEven before 1585 Broadway began to rise over Duffy Square, its developer, David S. Solomon, had signed law firm Proskauer Rose to a 20-year lease for 365,000 square feet (33,900 square meters). A notable achievement at any time, the deal was a milestone in a market where a growing number of new buildings were competing heavily for a shrinking number of tenants.In December 1991, the original developer, 1585 Broadway Associates, controlled by Solomon, filed for bankruptcy, leaving unfinished building construction, stalled leasing, and strained tenant relationships. A consortium of banks then gained control of the asset through the bankruptcy process and hired Hines Interests Limited Partnership to manage the property.Morgan Stanley bought the building for $176 million in August 1993 and moved in two years later. Currently, it uses the building as its world headquarters.Management and engineeringAll of Morgan Stanley's properties are currently managed by Hines Interests. DataComm management is jointly tasked between Morgan Stanley's IT unit referred to as "Morgan Stanley - Critical Systems" as well as Hines Interests. As of 1994 The building's peak electrical demand was 9,288 kW. This excludes the loads brought on by Morgan Stanley's tenants.