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Deals & Dealmakers

JP Morgan takes additional 305,000 s/f at Five Manhattan West

Brookfield Property Partners announced that JPMorgan Chase & Co. has signed a new 305,000 s/f lease at Five Manhattan West, part of the firm’s eight-acre neighborhood being developed in the Hudson Yards district on Manhattan’s west side.

JP Morgan currently occupies roughly 123,000 s/f within Five Manhattan West, bringing the total office size to nearly 428,000 s/f.

Located on Tenth Avenue and spanning from 31st to 33rd Streets, Five Manhattan West (formerly 450 West 33rd Street) is a 17-story, 1.8 million-square-foot building that features expansive floor plates, floor-to-ceiling glass and 100,000 s/f of retail space.

Brookfield recently completed a major, $300 million-plus redevelopment of the former warehouse building.

Designed by REX Architects, the new Five Manhattan West has been re-launched as a state-of-the-art, collaborative urban space that fosters innovation and exploration for cutting-edge companies.

Other office tenants in the building include Markit and R/GA. In March, Brookfield announced that Whole Foods will be taking 60,000 s/f of retail space at the building, expanding its urban retailing concept that blends marketplace and dining options.

“Five Manhattan West’s transformation from a concrete warehouse building into a striking, state-of-the-art office property is luring innovative, growing companies, and JP Morgan’s decision to expand there is the latest example,” said Ric Clark, Senior Managing Partner and Chairman of Brookfield Property Group and Brookfield Property Partners.

“We recognized the unique features of the building, including 100,000-square-foot plus floor plates and floor-to-ceiling windows, would be attractive to firms, but the market reaction to the newly re-launched building has already greatly exceeded even our high expectations.”

Manhattan West is an eight-acre, six-building mixed-use development, stretching from Ninth Avenue to Tenth Avenue and 31st Street to 33rd Street. It will feature nearly six million square feet of Class-A office space (including offices for Skadden, Arps, Slate, Meagher, & Flom LLP and the new headquarters for the NHL at One Manhattan West), luxury residences at The Eugene, a boutique hotel and an urban landscape with landscaped gardens and street-front retail and incorporating public art and events by Arts Brookfield, Brookfield’s award-winning arts and entertainment program.

Manhattan West sits immediately adjacent to the soon-to-be-redeveloped Empire Station/Penn Station Complex – the busiest train station in North America – and near the new 7-train station at Hudson Yards, New York City’s first subway extension in decades.

The Eugene at Manhattan West opened earlier this year, featuring 844 rental units. The Australian-influenced premium coffee shop Bluestone Lane will open in the retail space of the building later this month.


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