Amazon’s 330,000 square-foot lease at 10 Bryant Park — or 452 Fifth Ave. at West fortieth St. — is huge information each for Jeff Bezos’s ever-expanding behemoth and for the on-fire Midtown workplace market.
The deal on the former HSBC tower closed final week, the Actual Deal reported. Realty Verify first reported the talks final October, and issues moved alongside easily after that.
The Amazon lease retains the tower owned by Israel’s little-known Property & Constructing Corp. at 100% spoken for. Sources mentioned HSBC, which moved to Tishman Speyer’s Spiral, is paying lease till the tip of this month on flooring 3-11, which Amazon will occupy.
Regardless of fears that Amazon’s setback in 2016, when politicians nixed its hopes for a serious campus in Queens, would scare it out of town, Bezos has expanded right here relentlessly.
He purchased the previous Lord & Taylor flagship on Fifth Avenue, the place Amazon has 2,000 staff, for $1 billion in 2020 (and the place a 34,000 square-foot meals courtroom known as Shaver Corridor will open this 12 months). Since then, as Bezos ordered most staff again to the workplace 5 days per week, it wolfed up area at 330 W. thirty fourth St., 237 Park Ave. and 5 Manhattan West.
They had been all comparatively short-term subleases, two of them from WeWork. However our sources mentioned Amazon — which Bezos mentioned wanted 1000’s extra seats within the metropolis than it had — isn’t possible to offer them up when their area at 10 Bryant Park is prepared by early 2026.
“This is really their first, long-term direct-lease commitment since the pandemic,” one supply mentioned.
“And it’s close enough to the other locations to call it a Manhattan campus for them.”
Amazon’s lease at 10 Bryant Park will begin at $29.5 million a 12 months, rising to $32.2 million in 5 extra years, the Actual Deal reported, citing a submitting by Property & Constructing with the Tel Aviv Inventory Change.
The owner was repped by a JLL staff led by Paul Glickman and Benjamin Bass. A special JLL staff repped Amazon. All concerned within the transaction both declined to remark or couldn’t be reached.
Amazon’s is the newest large-scale company enlargement in Midtown, and removes one other high-quality block of area from the accessible stock. Many brokers, similar to CBRE’s Mary Ann Tighe and Stephen B. Siegel, have warned that Midtown’s top-tier buildings had been truly working out of area — a phenomenon that may have appeared unthinkable simply 4 years in the past.
