JP Morgan Chase Takes 1,726 SF in Lenox Hill

Apparently, 2.5 million square feet wasn’t enough for J.P. Morgan Chase.

Just as it was announcing its new 60-story headquarters at 270 Park Avenue, J.P. Morgan took an additional 1,726 square feet of office space on the third floor of 26 East 64th Street, according to Josh Augenbaum of Augenbaum Realty, who represented the building’s owner, 26 East 64th Street LLC.

Martin Cottingham and Patrick Steffens at Avison Young represented J.P Morgan Chase.

Asking rent for the 10-year lease was $100 per square foot. The company will use the space a block east of Central Park for “back office space and private banking,” according to Augenbaum.

Plowright Real Estate Fund acquired the building in 2007 from Kushner Companies for $16 million, according to public records. The company transferred official ownership to 26 East 64th Street LLC the following year.

Other tenants at the five-story, 7,380-square-foot building in Lenox Hill between Fifth and Madison avenues include the Italian restaurant Altesi Ristorante, the Leon Tovar Gallery and Pilates studio NM Studio. 

 J.P. Morgan made considerably bigger real estate news last week with the unveiling of 270 Park Avenue. The building, which is New York City’s largest all-electric tower, will house 10,000 J.P. Morgan employees by the end of the year. Company officials revealed last week the tower cost $4 billion, about $1 billion more than previously reported cost estimates.  

The bank did not immediately respond to a request for comment, and Avison Young declined to comment.

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