JP Morgan Chase Expands by 139K SF at Five Manhattan West
By Mark Hallum February 4, 2026 1:29 pm
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Despite opening a 2.5 million-square-foot office tower at 270 Park Avenue in October, J.P. Morgan Chase has expanded by 139,332 square feet Brookfield Properties‘ Five Manhattan West.
With the expansion, the bank brought its total square footage at Five Manhattan West to roughly 565,000 square feet during the fourth quarter of 2025, according to a Colliers office report. Brookfield confirmed the size of the expansion Wednesday.
J.P. Morgan Chase did not immediately respond to a request for comment, and it is unclear why the Jamie Dimon-led firm is taking office space in other buildings so soon after opening its mega office headquarters at 270 Park. The bank also completed a 60,000-square-foot expansion to 496,905 square feet L&L Holding Company’s 390 Madison Avenue in December.
Brookfield and J.P. Morgan Chase did not immediately provide the names of the brokers on the deal, the asking rent or the length of the expansion deal.
The average office asking rent in Midtown was $84.24 per square foot during the fourth quarter of 2025, according to a report from CBRE.
J.P. Morgan Chase cut the ribbon on its new $4 billion, 60-story office tower designed by renowned architect Norman Foster in the closing months of 2025 with the expectation that 10,000 workers would occupy the building on a regular workday. It is assumed that the additional office space the bank is taking will accommodate the balance of the firm’s 24,000 employees in New York City.
The Oct. 21 ribbon-cutting ceremony on the bronze-clad office tower was attended by top leaders in New York City, including Gov. Kathy Hochul.
Mark Hallum can be reached at mhallum@commercialobserver.com.
