For office tenants in Manhattan is Prime Day every day.
Amazon expanded his presence on 1440 Broadway in Times Square by adding 259,000 square feet to the company in the building, Bloomberg reported. The footprint at the building is up to 560,000 square feet, an overwhelming majority of the CIM group and QSUPER’s 745,000 square feet.
Amazon’s space in the building is managed by Wework. The demand rental and duration of the expansion was not announced.
“Wework is proud to continue to support Amazon’s real estate strategy in important markets-especially in New York City,” a spokesperson for the co-work company told The Outlet.
A Cushman & Wakefield team including Theodora Livadiotis, Anthony Lopresti and Ethan Silverstein represented Wework in the deal, according to the Commercial observer.
Amazon has signed deals and right in New York City in recent months.
In the spring, Amazon concluded a lease of 330,000 square meters in the 10 Bryant Park of Property & Building Corp, one of the largest lease of Midtown Office in the last five years.
In recent months, Amazon agreed with an underheld agency of 193,000 square feet on the 237 Park Avenue of RXR and Walton Street Capital; Extended with 112,000 square feet at the 5 Manhattan West of Brookfield Properties, where Amazon already occupied 360,000 square feet (and lease contracts from Wework); And took a lease agreement of 304,000 square feet in the 330 West 34th Street of Vornado Realty Trust, which is also a Work/Amazon team-up.
Amazon also bought the former Lord & Taylor building in 2020 for $ 1.2 billion, which uses it as his headquarters in Manhattan.
Two months ago, the $ 399 million loan was linked to 1440 Broadway again in special maintenance, despite a loan adjustment and a new real estate manager. Lenders have placed it in special maintenance this month due to a balloon payment or decay of adulthood, according to Morningstar credit.
An earlier missed duration payment dragged the value of the building by 46 percent, from $ 595 million to $ 320 million.
– Holden Walter-Warner
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