For office landlords in Manhattan, every day is Prime Day.
Amazon expanded its presence at 1440 Broadway in Times Square by adding 259,000 square feet to its holding at the building, Bloomberg reported. Its footprint at the property is up to 560,000 square feet, an overwhelming majority of CIM Group and QSuper’s 745,000-square-foot property.
Amazon’s space at the building is operated by WeWork. The asking rent and duration of the expansion was not disclosed.
“WeWork is proud to continue supporting Amazon’s real estate strategy in key markets — notably in New York City,” a spokesperson for the co-working 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 been signing deals left and right in New York City in recent months.
In the spring, Amazon closed on a 330,000-square-foot lease at Property & Building Corp’s 10 Bryant Park, one of the largest Midtown office leases in the last five years.
In recent months, Amazon agreed to a 193,000-square-foot sublease at RXR and Walton Street Capital’s 237 Park Avenue; expanded by 112,000 square feet at Brookfield Properties’ 5 Manhattan West, where Amazon already occupied 360,000 square feet (and leases from WeWork); and took a 304,000-square-foot lease at Vornado Realty Trust’s 330 West 34th Street, which is also a WeWork/Amazon team-up.
Amazon also purchased the former Lord & Taylor building in 2020 for $1.2 billion, which it uses as its Manhattan headquarters.
Two months ago, the $399 million loan tied to 1440 Broadway went into special servicing again, despite a loan modification and a new property manager. Lenders placed it in special servicing this month due to a balloon payment or maturity default, according to Morningstar Credit.
A previous missed maturity payment dragged down the building’s value by 46 percent, from $595 million to $320 million.
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Amazon inks massive lease at PBC’s 10 Bryant tower
1440 Broadway back in special servicing despite recent lifeline
