{"id":1004209223,"date":"2018-03-06T05:16:07","date_gmt":"2018-03-06T13:16:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004209223"},"modified":"2022-12-08T06:27:40","modified_gmt":"2022-12-08T14:27:40","slug":"jpmorgan-chase-inks-437-ksf-lease-in-redeveloped-nyc-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-inks-437-ksf-lease-in-redeveloped-nyc-office-tower\/","title":{"rendered":"JPMorgan Chase Inks 437 KSF Lease in Redeveloped NYC Tower"},"content":{"rendered":"<p><em>By Keith Loria, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004209230\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/390-Madison-Ave..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004209230\" data-attachment-id=\"1004209230\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-inks-437-ksf-lease-in-redeveloped-nyc-office-tower\/390-madison-ave-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/390-Madison-Ave..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"390 Madison Ave.\" data-image-description=\"&lt;p&gt;390 Madison Ave., NYC&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;390 Madison Ave., NYC&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/390-Madison-Ave..jpg?w=800\" class=\"wp-image-1004209230 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/390-Madison-Ave..jpg\" alt=\"390 Madison Ave., NYC\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/390-Madison-Ave..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/390-Madison-Ave..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/390-Madison-Ave..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004209230\" class=\"wp-caption-text\">390 Madison Ave., NYC<\/p><\/div>\n<p>JPMorgan Chase has signed a 10-year lease at 390 Madison Ave., a 32-story office redevelopment being done by a joint venture between L&amp;L Holding Co. and Clarion Partners LLC, acting on behalf of the New York State Common Retirement Fund.<\/p>\n<p>The joint venture is currently transforming the former 380 Madison, re-massing the 850,000-square-foot property through the demolition of 3 million pounds of concrete and more than 160,000 square feet to make room for the addition of several new floors atop the existing structure.<\/p>\n<p>In 2017, the developers finished the tower\u2019s structural transformation, increasing the old 24-story building by 108 feet to its new height of 32 stories and 373 feet. The original mid-20th century high-rise will now feature massive column-free spans, high ceilings, modern infrastructure, a new fa\u00e7ade of transparent, floor-to-ceiling glass and 13 outdoor terraces. \u00a0<\/p>\n<p>The re-massing also allows for a series of light-filled, double-height floors and a triple-height tenant amenity space.<\/p>\n<p><em>\u201cJPMorgan has long been a stalwart of the Grand Central District, and their continued long-term commitment will serve as a major boost to this iconic Midtown neighborhood,\u201d <\/em>David Levinson, L&amp;L Holding Co.\u2019s chairman &amp; CEO, said in a prepared release.<em> \u201cWe are proud to welcome them to 390 Madison Ave.\u201d<\/em><\/p>\n<p>Under the terms of the deal, JPMorgan Chase will occupy 436,905 square feet, encompassing 16 office floors and two street-level retail spaces. The office space includes a conference center, multiple outdoor terraces and several double-height amenity areas. A Chase bank branch will take up one of the ground floor spaces.<\/p>\n<p><em>\u201cIt is fitting that JPMorgan should choose to occupy 390 Madison, which we believe will serve as a model for the future of Midtown East with its best-in-class construction, modern amenities, collaborative outdoor spaces, tenant connectivity and green technology,\u201d<\/em> Robert Lapidus, L&amp;L Holding Co.\u2019s president &amp; chief investment officer, said.<\/p>\n<h2><strong>100 Percent Occupancy<\/strong><\/h2>\n<p>In December, L&amp;L Holding Co. signed cosmetics company Shiseido Americas Corp. to a 225,800-square-foot lease at the <a href=\"https:\/\/www.commercialsearch.com\/news\/ll-signs-shiseido-to-226-ksf-in-new-york-city\/\">Midtown Manhattan office property<\/a>. Shiseido will relocate its headquarters from 900 Third Ave. to eight floors of the building.<\/p>\n<p>With the new lease, the high-rise has a guaranteed 100 percent occupancy for when it opens later this year. The third tenant is law firm Hogan Lovells, which will occupy 200,000 square feet on floors seven through 12.<\/p>\n<p>Earlier this year, <a href=\"https:\/\/www.commercialsearch.com\/news\/ll-holding-promotes-6-executives\/\">L&amp;L Holding Co<\/a>. promoted six key executives within its New York City headquarters.<\/p>\n<p><em>Image courtesy of\u00a0L&amp;L Holding<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will occupy 16 office floors and two street-level retail spaces at 390 Madison Ave. in Midtown Manhattan. L&amp;L Holding Co. and Clarion Partners are currently transforming the original mid-20th century building into a futuristic 32-story high-rise.<\/p>\n","protected":false},"author":451,"featured_media":1004209230,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21782,21808,1600,21742,10,21747],"tags":[32790,38602,35274,37976],"class_list":["post-1004209223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-development","category-featured","category-new-york","category-latest","category-northeast","category-office","tag-clarion-partners","tag-david-levinson","tag-jpmorgan-chase","tag-ll-holding"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JPMorgan Chase Inks 437 KSF Lease in Redeveloped NYC Tower - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-inks-437-ksf-lease-in-redeveloped-nyc-office-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Chase Inks 437 KSF Lease in Redeveloped NYC Tower\" \/>\n<meta property=\"og:description\" content=\"The company will occupy 16 office floors and two street-level retail spaces at 390 Madison Ave. in Midtown Manhattan. 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