Scotiabank Takes 205K SF at Brookfield’s 660 Fifth Avenue

Toronto-based Scotiabank, one of North America’s largest banks, will relocate its New York office to 205,000 square feet over three floors at Brookfield Properties’ 660 Fifth Avenue, Commercial Observer has learned.

Brookfield Properties was represented in-house by Mikael Nahmias, Dan Roberts and Andrew Dunn, as well as a CBRE team of Howard Fiddle, Peter Turchin, John Maher, Brett Shannon, Cara Chayet and Trevor Larkin. Scotiabank was represented by CBRE’s Michael Geoghegan, Ramneek Rikhy and Eric Thomas.

Scotiabank’s New York office, currently at 250 Vesey Street in Battery Park City, will expand in its move to the fifth, sixth and seventh floors of the 39-story Midtown office tower on Fifth Avenue between West 52nd and West 53rd streets.

The bank’s new space will be operational by 2027, and will support the institution’s executive, trading and client-facing functions. The office will include distinct architectural features that include double-height spaces with interconnecting staircases, a year-round loggia, and extensive amenities such as a client experience center, according to Brookfield.

“Relocating our New York office to 660 Fifth Avenue places us squarely in the heart of the financial world,” Travis Machen, CEO and group head of global banking and markets for Scotiabank, said in a statement. “This move signals our deep, long-term commitment to the U.S. market, and strengthens our platform across the North American corridor.”

The deal takes the 1.4 million-square-foot 660 Fifth Avenue to 100 percent occupancy.

“With the addition of Scotiabank, we are proud to announce that 660 Fifth Avenue is now fully committed with an elite tenant roster of leading global firms,” Jason Maurer, executive vice president and head of leasing for the North America office of Brookfield Properties, said in a statement. “Our recent transformation of this centrally located office tower offers the perfect combination of high-end design, modern amenities and superior transportation access as international banks focus on upgrading office spaces to attract top talent and clients. We look forward to partnering with Scotiabank to reimagine their office in our iconic trophy office tower.”

The duration of the lease and the asking rent were unavailable, but the average asking rent for office space in Midtown Manhattan for the second quarter of 2025 was $82.28 per square foot, according to CBRE. 

Brookfield acquired 660 Fifth Avenue — formerly 666 Fifth Avenue — from Kushner Companies in 2018 for $1.3 billion, according to previous reporting in CO, and completed its $400 million redevelopment of the building in 2023. The reimagined office tower features fully upgraded infrastructure, including a new lobby, outdoor terraces and a façade reclad in 11-foot-by-19-foot single-pane glass units, the largest ever used on a redevelopment in New York City.

Other tenants in the building include the Australian investment banking and financial services group Macquarie Group, alternative investment manager Citadel and investment firm Viking Global.

Larry Getlen can be reached at lgetlen@commercialobserver.com.