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Amazon Expands Midtown Manhattan Footprint with Significant Lease at 10 Bryant Park
Amazon’s significant new lease for 330,000 square feet at 10 Bryant Park (also known as 452 Fifth Ave. at West 40th St.) marks a major development for both the multinational corporation and the thriving Midtown Manhattan office space market.
Reports indicate the agreement at the former HSBC tower was finalized last week. Initial discussions were reported in October, with negotiations proceeding without complications.
This lease ensures full occupancy for the tower located at 10 Bryant Park, owned by Property & Building Corp. Sources reveal that HSBC, having relocated to Tishman Speyer’s Spiral, will continue to pay rent on floors 3-11 until the end of the month, prior to Amazon taking occupancy.
Despite concerns that the rejection of Amazon’s plans for a large campus in Queens in 2016 might deter further investment in New York City, the company has consistently expanded its presence.
Continued Investment in Manhattan
In 2020, Amazon acquired the former Lord & Taylor building on Fifth Avenue for $1 billion. This location currently accommodates 2,000 employees and will soon feature a 34,000 square-foot food court, Shaver Hall.
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Strategic Office Space Acquisitions
Following the Lord & Taylor acquisition and a mandate for employees to return to the office five days a week, Amazon has strategically expanded its office space footprint in Midtown Manhattan. This includes securing space at 330 W. 34th St., 237 Park Ave., and 5 Manhattan West.
Long-Term Commitment to Midtown
While previous expansions primarily involved short-term subleases, including agreements with WeWork, sources indicate a shift towards long-term investments. Despite the forthcoming availability of the 10 Bryant Park location in early 2026, Amazon is expected to retain its existing spaces. A source commented, “This marks their first long-term, direct lease commitment since the pandemic,” signaling a significant strategic shift.
Establishing a Manhattan Campus
The consolidation of these office spaces in close proximity suggests the emergence of a de facto Manhattan campus for Amazon. Another source noted, “Its proximity to their other locations effectively establishes a Manhattan campus,” underscoring the strategic clustering of their operations in Midtown Manhattan.
Lease Financials
Reports from The Real Deal, citing a filing by Property & Building with the Tel Aviv Stock Exchange, detail Amazon’s rental agreement at 10 Bryant Park. The annual rent will commence at $29.5 million, escalating to $32.2 million within five years.
Transaction Details and Market Impact
JLL teams represented both the landlord, led by Paul Glickman and Benjamin Bass, and Amazon in this transaction. Representatives involved have declined to comment or were unreachable.
Tightening Midtown Office Market
Amazon’s lease represents a significant addition to corporate expansion in Midtown Manhattan, further tightening the availability of high-quality office space. Real estate experts, including CBRE’s Mary Ann Tighe and Stephen B. Siegel, have highlighted the decreasing inventory of premier office buildings in Midtown, a market condition deemed unlikely just four years ago.