JPMorgan Seeks to Reduce Office Space in Two Manhattan Towers
- Space in Financial District, Hudson Yards is up for sublease
- Pandemic has pushed employers to re-evaluate real estate needs
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JPMorgan Chase & Co. is marketing big blocks of office space in Manhattan as companies re-evaluate their need for real estate amid the Covid-19 pandemic, according to people with knowledge of the matter.
The New York-based bank is looking to sublet just under 700,000 square feet (65,000 square meters) 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, said the people, who asked not to be named because the matter is private. Brokers at Jones Lang LaSalle Inc. are marketing the space.