Waterfront Corporate Center II in Hoboken — Courtesy: SJP Properties
By Joshua Burd
Accounting and advisory giant Ernst & Young LLP has opened the doors to its new 170,000-square-foot office and learning center in Hoboken, where it is among the largest tenants at SJP Properties’ waterfront business campus.
The global assurance, tax, transaction and advisory services firm said that more than 1,000 employees will occupy the space at 121 River St. In addition, the facility will feature advanced technologies to support high-performance teaming and learning, with more than 100 collaboration rooms and nearly 130 flexible work areas.
“EY continues to grow and expand in serving our clients and our people across the tristate region,” said Ray Mikovits, EY partner and Hoboken office managing partner. “Today’s opening of the Hoboken office and learning center, an inspiring, state-of-the-art environment, aligns with EY’s focus on innovation across all aspects of business.”
SLIDESHOW: Inside EY’s new Hoboken office
All photos courtesy: EY
The move comes about a year and a half after SJP announced the lease, which was slated to bring roughly 1,000 employees from EY’s flagship Times Square office. The firm’s new home in Hoboken is within Waterfront Corporate Center II, part of a three-phase office and retail campus developed by SJP and PGIM Real Estate.
In a news release, EY said the new office expands its New York metro footprint while supporting the EY@Work initiative, which emphasizes the firm’s dedication to creating energizing and efficient environments for its workforce. The company touted a belief in providing its people more choice in where, when and how work gets done in order to help them improve their performance and support their well-being.
“We are constantly exploring ways to expand our presence and show our commitment to our clients in the tristate region,” said Richard M. Jeanneret, vice chair and Northeast region managing partner with EY. “We believe Hoboken is a key solution in accomplishing these efforts and we look forward to continuing to grow as an innovation leader in the NYC metro area.”
SJP also served as project manager in building the new space at 121 River St., which EY said was designed with an eye toward integration, collaboration and innovation.
As part of an effort to draw EY to Hoboken, the state Economic Development Authority in 2016 approved a 10-year, $39.7 million tax credit under the Grow New Jersey incentive program. The firm said at the time that it was also exploring a move to Brooklyn as an alternative.
In the meantime, EY has also inked a new lease agreement for 600,000 square feet at One Manhattan West on Manhattan’s far West Side. The company is moving its U.S. headquarters from 5 Times Square.
“We are investing in strategic locations in the areas where our clients and prospects have a strong presence,” said Anthony Caterino, vice chair with EY and regional managing partner. “Opening EY Hoboken, and our recent announcement of our future US headquarters at One Manhattan West, place our talented professionals in close proximity to the prime areas where financial services companies conduct their business.”