June 6, 2017
JPMorgan Chase signed a 15-year lease for an additional 305,000 square feet at Brookfield Property Partners’ 5 Manhattan West in Manhattan’s Hudson Yards District. The deal expands the bank’s presence from 123,000 square feet at the 16-story, 1.7-million-square-foot building.
Brookfield just completed a $300-million redevelopment of the former warehouse property. The property, affectionately known as the elephant’s foot, is now integrated into Manhattan West, a master-planned, seven-million-square-foot mixed-use community.
The bank, which has 650 employees now at the building, says the new space on the top three floors at 450 West 33rd St. will be for FinTech, its financial technology arm. JPMorgan Chase is slated to bump its head count to 2,000 to 2,500 in the 2018-2019 timeframe.
Cushman & Wakefield’s Bruce Mosler, Josh Kuriloff, Rob Lowe, Ethan Silverstein, Matthias Li and Whitney Anderson represented the landlord.
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