The company is headquartered in New York, but its first official presence on Manhattan Island will be 19,800 square feet of second-floor space at 350 Hudson Street.
Jason Pizer, president of Trinity Real Estate, which owns the building, told the Commercial Observer that Pepsi will pay less than the current asking price of $58 per square foot.
Pepsi has reportedly begun fitting out the Manhattan offices with a view to having them fully operational before the end of the year.
The building at 350 Hudson Street was first established in 1927. It incorporates roughly 335,000 square feet of commercial space, some of which is retail-oriented. Tenants at the site include PR Newswire and Pret-a-Manger, a food store and coffee shop.
Mr Pizer said in a statement: “Hudson Square is increasingly becoming a destination for major international brands drawn by the energy and unique character of the neighborhood and the quality of the space. We are delighted that PepsiCo has chosen to join our growing community.”
PepsiCo is one of the world’s largest consumer goods companies, with 22 brands generating more than a billion dollars in annual revenue. In addition to a broad range of soft drinks, its brands include Doritos, Quaker Oats, and Rice-a-Roni.
Editor’s Notes: In 2023, 350 Hudson Street remained the site of PepsiCo’s Design and Innovation Centre.
Other tenants at the property include Hale and Hearty and Medidata.
As of October 2026, PepsiCo’s Design and Innovation Centre remained based at 350 Hudson Street, 2nd Floor, New York, NY 10014.
PepsiCo remained headquartered in Harrison, New York, in the hamlet of Purchase.
On October 26th 2026, PepsiCo was the world’s 3rd-largest beverage company by market capitalisation at £134.34 billion ($179.29 billion).
Coca-Cola was the largest at £298.26 billion ($386.08 billion), followed by Chinese company Kweichow Moutai at £189.05 billion ($252.33 billion).
In Q1 2026, 12.4 million square feet of office space was leased in Manhattan, up 10.5 per cent from the previous quarter and marking the strongest single quarter of leasing since 12.7 million square feet in the fourth quarter of 2019.
New York City’s overall office vacancy, across its five boroughs, stood at 14.6 per cent in Q1 2026, compared with the US nationwide vacancy rate of 16.4 per cent.
Manhattan’s office vacancy rate stood at 13.1 per cent.
Overall Manhattan asking rents stood at $77.55 per square foot per annum.
General Class A asking rents were around $89.00 per square foot, and Manhattan trophy office base rents averaged $125.00 per square foot.