Amazon Eyes HSBC’s Fifth Ave Office for NYC Expansion

According to The Real Deal, Amazon (AMZN) is reportedly in discussions to lease a 350 KSF office space at 452 Fifth Avenue in Midtown Manhattan. 

The lease discussions involve PBC, the building’s Israeli owner, with JLL (JLL) teams representing both Amazon and PBC. 

Deal Details

Amazon is eyeing the sizeable office space in response to its recent directive requiring employees to return to office work in the new year. 

The building at 452 Fifth Avenue, also called 10 Bryant Park, sits next door to Amazon’s headquarters at the former Lord & Taylor building, which Amazon acquired for $1.1B in 2020 and currently houses 2K employees.

HSBC (HSBC) is currently occupying the space, which it plans to relocate to Tishman Speyer’s Spiral building at Hudson Yards in 2025.

Although the specific terms of Amazon’s potential lease have not been disclosed, recent deals in the building have been at an asking rate of $160 PSF, according to reports. Earlier this year, private equity firm 17Capital leased 16 KSF in the building.

Bigger Footprint

Amazon’s potential lease at 452 Fifth Avenue comes after the tech giant previously retracted from other New York-area office deals, notably a 400 KSF lease at Harborside in Jersey City in 2021. 

Amazon was also involved in litigation after backing out of a 310 KSF deal with the Durst Organization at 1133 Sixth Avenue, which resulted in a $21M damages award to Durst.

What’s Next?

HSBC’s move to the Spiral will leave PBC with a considerable vacancy, making Amazon a critical prospective tenant. 

As Midtown Manhattan’s office market continues to navigate high vacancy rates and shifting tenant demand, this potential Amazon lease at 452 Fifth Avenue underscores a renewed focus on positioning in prime Manhattan locations.