Brookfield Properties today announced that global financial services company Macquarie Group has signed a lease within its fully redeveloped Class A office tower at 660 Fifth Avenue in Midtown Manhattan. The firm will occupy 221,764 square feet over six floors, in addition to having a private lobby entrance on both the first and second floors, top-of-building signage and 30,000 square feet of private outdoor terraces. 660 Fifth Avenue will serve as the new location for Macquarie Group’s New York regional headquarters.
The lease announcement comes as Brookfield Properties nears completion of a $400 million redevelopment of the iconic tower, featuring the re-cladding of the façade in 11×19 foot single-pane glass units, a new lobby, elevators, state-of-the- infrastructure, and oversized tenant terraces. Brookfield Properties purchased the property in 2018 and its redevelopment is expected to be completed this year.
“We are thrilled to welcome Macquarie Group to 660 Fifth Avenue. The investment we’ve made to re-create the property has raised the bar for the next generation of workplace,” said Mikael Nahmias, Senior Vice President, Brookfield Properties. “The commitment by Macquarie Group underscores the demand for top-tier office properties in New York City. The leading global firms understand that the best talent wants to work in the best spaces.”
A 39-story office building, 660 Fifth Avenue was built in 1957 and designed by Carson & Lundin. The tower’s original façade was composed of embossed aluminum panels which have been replaced as part of Brookfield’s redevelopment program with 11×19 foot insulated glass panels that triple the amount of window space in the building and are the largest unitized windows ever used on a commercial hi-rise. 660 Fifth Avenue is located between 52nd and 53rd Streets and contains an entrance to the Fifth Avenue/53rd Street subway station which is served by the E and M trains.
Macquarie Group specializes in asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, specialist advisory, capital raising and principal investment across 33 markets globally. The company will be relocating from 125 West 55th Street.
The tenant was represented by a JLL leasing team that included New York Tri-state Region chairman and president Peter Riguardi; vice chairmen Frank Doyle, Cynthia Wasserberger, Joseph Messina and Steven Rotter; senior vice president Will McGarry; vice presidents Carlee Palmer and Kristina Kopans; and managing director Jessica Berkey.
“This headquarters lease highlights the continuing appeal of New York City as an unparalleled destination for leading talent from around the nation and around the world,” Riguardi said in a statement.
Brookfield Properties was represented in-house by Mikael Nahmias, Hayley Shoener and PJ Massey and by a Cushman & Wakefield team of Bruce Mosler, Josh Kuriloff, Ethan Silverstein, John Santora, Matthias Li, Nicholas Dysenchuk and Howard Cross.