Moody's plans to shrink its global headquarters in New York by nearly 25% when it relocates from the World Trade Center to Brookfield Place in 2027.
The ratings giant said Monday it signed a lease for 460,000 square feet at 200 Liberty St. in lower Manhattan. The firm has occupied more than 600,000 square feet at 7 World Trade Center since 2014, according to CoStar data. The deal with landlord Brookfield Properties ranks as the fourth-largest office lease signed in New York this year.
The announcement comes almost a year to the date after Moody's approved a strategic restructuring program aimed at saving $250 million to $300 million annually. The goal was to improve operating efficiency, realigning toward growth areas and consolidating certain functions. The program primarily included a reduction in staff and the exit of certain leased office spaces, the company previously disclosed.
Moody's will occupy multiple floors of the 40-story 200 Liberty tower. The space offers 180-degree views of New York Harbor and positions the company at one of Manhattan's premier office destinations.
"This move is so much more than a change of address," Rob Fauber, Moody's president and CEO, said in a statement. "It's an investment that is going to help us better serve our customers and ensure Moody's remains a place where people want to come and grow."
The lease carries an estimated annual cost of $28.1 million based on World Trade Center market rates of $61 per square foot, an 18% discount to Manhattan's $75 average, CoStar data shows.
Terms of the transaction were not disclosed.
The downsize reflects the broader industry trends toward smaller, higher-quality offices designed for hybrid work and the adoption of artificial intelligence. Moody's joins a wave of financial services firms consolidating space in lower Manhattan while upgrading amenities. Jane Street leased 665,000 square feet at 250 Vesey St. in February, while BNY Mellon subleased 193,000 square feet at 1 World Trade Center in June.
The move also extends Brookfield Properties' dominance in the market. The landlord captured 40% of all lower Manhattan office leasing in 2025 with more than 2 million square feet secured at Brookfield Place alone, CoStar data shows.
Brookfield did not respond to CoStar News' request for additional comment.
Brookfield Place spans 9.4 million square feet of office and retail space. The complex recently secured a 50-year ground lease extension from the Battery Park City Authority.
Moody's 115-year presence in lower Manhattan will continue at the new location. The company designed the space to support collaboration, featuring flexible work areas, modern conference facilities and enhanced wellness amenities.
Moody's new headquarters forms part of a global office enhancement program that includes facilities in London, Sydney, Tokyo, Milan and Washington, D.C.
For the record
Cushman & Wakefield represented Moody's on the transaction. The brokerage team included Robert Lowe, John Cefaly, Paige Engeldrum, Ed Donnery, Michael Montesi and Nicholas Dysenchuk. Fried Frank served as legal counsel.