- Scotiabank lists over 185,000 SF of office space at 250 Vesey St. for sublease.
- Space spans floors 23–26 in Brookfield Place, with flexible leasing options.
- The listing is one of New York’s largest contiguous office blocks currently on the market.
- Lower Manhattan’s office leasing market shows signs of strong post-pandemic recovery.
Major Block Hits the Market
CoStar reports that Scotiabank has listed more than 185,000 SF of office space in Lower Manhattan. The space spans four connected floors at 250 Vesey St. The bank is offering the space for sublease. Notably, it ranks among the city’s largest contiguous office blocks. This listing comes as top-tier office supply remains tight across Manhattan.
The move follows the Canadian bank’s planned relocation to over 200,000 SF at Brookfield’s 660 Fifth Ave. in Midtown. The subleased 250 Vesey space, which includes interconnected and furnished floors, can be leased by full floor, partial floor, or as a single contiguous unit.
Why It Matters
The 34-story 250 Vesey is part of Brookfield Place, a major Lower Manhattan mixed-use development featuring offices, retail, and amenities. The building counts Jane Street as its largest tenant and is currently fully leased, according to CoStar.
Lower Manhattan’s office market saw renewed momentum in 2025, after lagging Midtown during the early recovery from the pandemic. Significant transactions at Brookfield Place and One World Trade Center helped drive demand, with leasing volume not seen in over two decades, according to local reports. The listing also comes as Scotiabank adjusts its broader US footprint, including expansion moves in Dallas supported by local incentives, underscoring how large financial institutions are reshaping their office strategies across multiple markets.
Get Smarter about what matters in CRE
Stay ahead of trends in commercial real estate with CRE Daily – the free newsletter delivering everything you need to start your day in just 5-minutes
Market Context
Industry professionals report a shrinking supply of large, high-quality office blocks for tenants seeking upgrades. This trend reflects the ongoing flight-to-quality across Manhattan’s office market. As a result, competition for premium space has intensified in recent months.
Meanwhile, Manhattan recorded its strongest leasing activity since 2019. Sublet availability continued to decline during the same period. In fact, it fell to its lowest level since late 2019, according to Colliers.
What’s Next
Cushman & Wakefield agents are representing Scotiabank for the sublease, offering options suited to modern tenants seeking large, ready-to-occupy spaces in a competitive New York environment.
