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Chase Looks to Sublet 700K SF of Downtown Space
JPMorgan Chase is looking to sublet big blocks of office space in Manhattan, Reuters reported, citing a Bloomberg News report. JLL is marketing JPMorgan’s space, the report said.
The bank intends to sublet just under 700,000 square feet at 4 New York Plaza in the Financial District and more than 100,000 square feet at 5 Manhattan West in the Hudson Yards area.
Although the COVID-19 pandemic-led lockdowns and stay-at-home orders have meant fewer people going to the office, which has prompted occupiers to reassess the need for real estate, “It is too early to comment on specifics as we continue to learn and adapt to this current situation and how it impacts our commercial real estate needs,” said a spokesperson for the bank.
The spokesperson added, “We are committed to New York and are planning for the next 50 years with our new headquarters here.”
- ◦Lease
