JP Morgan Chase Bank Renews 22K-SF Retail Space at One Grand Central Place
By Mark Hallum February 18, 2026 9:41 am
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J.P. Morgan Chase Bank is keeping its retail location across the street from Grand Central Terminal, Empire State Realty Trust (ESRT) announced Wednesday ahead of its fourth-quarter earnings call.
The retail space on East 42nd Street spans 21,683 square feet at the base of One Grand Central Place, but the asking rent, the length of the renewal, and when the bank originally moved in were unclear.
The median retail asking rent nearby on Fifth Avenue from East 42nd to East 49th streets was $650 per square foot in the second half of 2025, according to a report from the Real Estate Board of New York.
Fred Posniak, senior vice president of leasing at ESRT who represented the landlord in-house alongside Alec Stone, said that foot traffic and a partnership approach with tenants contribute to its leasing success in prime retail corridors in Manhattan.
Michael O’Neill of Cushman & Wakefield handled negotiations for J.P. Morgan Chase Bank in the deal, but did not immediately respond to a request for comment.
One Grand Central Place has an alternative address of 60 East 42nd Street. The 55-story office building sits across the street from the south entrance to Grand Central, giving tenants easy access to five subways lines as well as Metro-North Railroad and Long Island Rail Road trains.
Other recent deals in the building include a retail lease for Japanese omakase restaurant Sora, which took 14,430 square feet in October 2025, and fintech firm iCapital, which expanded by 78,704 square feet to 219,928 square feet in February 2025.
Mark Hallum can be reached at mhallum@commercialobserver.com.
