Written by

Amazon to Set Up New Office at 5 Manhattan West

| Commercial Real Estate News, Deals, Leasing, Office| Views: 360


Retail giant Amazon revealed plans last week to open a new administrative hub at 5 Manhattan West in New York City. The company will take over 359,000 square feet of office space at the site, and create 2,000 new jobs in sectors such as finance, sales, marketing, and IT.

Amazon was offered up to $20 million in performance-based tax credits through Empire State Development’s Excelsior Jobs Program, to expand its New York State footprint. A total of $55 million will be invested in outfitting the new office at 5 Manhattan West to energy-efficient standards.

5 Manhattan West, New York City (Yardi Matrix)

5 Manhattan West, New York City (Yardi Matrix)

The 16-story, 1.7 million-square-foot high-rise located at 450 West 33rd St. in Manhattan’s Chelsea neighborhood was built in 1969. Formerly known as the Westyard Distribution Center, the property was designed by Davis Brody & Associates in the Brutalist architectural style, and once housed the headquarters of the New York Daily News, as well as offices of The Associated Press and WNET. Brookfield Properties acquired a 75% interest in the Class A building in 2011 from Lone Star Funds, for a price tag of $693 million, per Yardi Matrix data. 5 Manhattan West was then completely renovated in 2016 and is now home to tenants such as JP Morgan Chase, the City of New York, R/GA and Whole Foods Market.

“Amazon’s further expansion in New York is proof positive that our strong economic climate, diverse workforce and talent, are helping to attract top-notch companies from around the world,” Governor Andrew Cuomo said in a statement. “We will continue to support the growth of this state’s business sector, which in turn supports economic growth and the creation of quality, good-paying jobs across the Empire State.”

Amazon currently employs 1,800 people in the area and recently announced plans to create more jobs at a new fulfillment center on Staten Island–the firm’s very first warehouse in New York State, according to Fortune Magazine. The Seattle-based company has been all over the news recently, as CEO Jeff Bezos recently announced plans to open a second Amazon headquarters. Major cities across the U.S. are now bidding for the chance to house Amazon’s new location. The New York Times conducted some intense research on the matter and suggests Denver as a suitable candidate for the retailer’s future location.

Comments are closed.