Macquarie Group, a global financial services company, is the latest to join an expanding roster of new commercial tenants at 660 Fifth Avenue in Midtown Manhattan. As the tower’s anchoring tenant, the firm will occupy 221,764 square feet, spread across six floors, in addition to having a private lobby entrance on both the first and second floors, 30,000 square feet of private outdoor space, and top of building signage.
“660 Fifth Avenue provides an experience that matches our focus on innovation, commitment to communities, and ability to deliver for our clients, while serving as a place that will enhance the way our people come together to learn, innovate, and collaborate,” said Shawn Lytle, head of Americas for Macquarie Group. “As we’ve transitioned to a hybrid working model over the past year, we’re excited to occupy a property that that will help enable our future success.”
Located between 52nd and 53rd Streets, 660 Fifth Avenue was completed in 1957 by New York design studio Carson & Lundin. The Macquarie Group’s lease announcement arrives as Brookfield Properties, the building’s current owners, near completion of a $400 million redevelopment project to improve the 64-year-old property.
Led by Kohn Pedersen Fox, the scope of redevelopment includes a new lobby, elevator modernization, infrastructure upgrades, new and improved outdoor terraces, and a top-down façade replacement. Tenant amenity spaces will include communal terraces, on-site parking, and bicycle storage. The original façade comprised embossed aluminum panels which Brookfield replaced with 11-foot-by-19-foot insulated glass panels, reportedly the largest windows ever used on a commercial hi-rise.
The property was also formerly addressed as 666 Fifth Avenue and jointly under development by Kushner Companies and Vornado, who planned to construct a 1,400-foot-tall mixed-use tower. Cursed by political and financial struggles, the project never came to fruition and was eventually sold to Brookfield in 2021.
“With a thoughtful and meticulous approach, Brookfield Properties has recreated 660 Fifth Avenue as centerstage in Midtown,” said Bruce Mosler, Cushman & Wakefield’s chairman of Global Brokerage. “The building gives tenants and their employees access to modern amenities, tremendous natural light, and outstanding access to transportation.”
Macquarie Group was represented by a JLL leasing team, and Brookfield Properties was represented by hybrid team of in-house leadership and associates from Cushman & Wakefield.
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