Brookfield Taps JLL for Big NYC Office Leasing Job
The firm will be exclusively in charge of 6 million square feet.
Brookfield Properties has tapped JLL as the exclusive leasing agent for Manhattan West’s office component, which spans 6 million square feet.
Chairman & President Peter Riguardi, Vice Chairs Paul Glickman and Matt Astrachan, Executive Managing Director Christine Colley and Senior Vice President Kristen Morgan, along with Vice President Seth Godnick, will lead the JLL team. The brokers will work alongside the property operator’s in-house team.
Manhattan West is a 7 million-square-foot, mixed-use campus comprising four office towers and an 844-luxury residential high-rise dubbed The Eugene, as well as a 164-key boutique hotel. Additionally, the live-work-play property has more than 240,000 square feet of retail space and is anchored by a 2.4-acre landscaped public plaza.
Manhattan West’s office component, up close
One of the buildings within the campus is One Manhattan West, totaling about 2.1 million square feet and rising 67 stories. Completed in 2019, the LEED Silver-certified skyscraper has tenants such as Skadden, NHL, Ernst & Young and Accenture on its roster.
Two Manhattan West came online last year and spans 1.9 million square feet across 58 stories. The tenant roster includes Cravath, KPMG, D. E. Shaw & Co. and Clifford Chance.
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The 201,695-square-foot Lofts at Manhattan West is a 1913-completed building that rises 14 stories. Initially, the property was designed for industrial use, but was converted to office in 2002, according to CommercialEdge information. Brookfield acquired it in two interest-stake deals from Planned Parenthood for a combined $135.5 million.
Completing the mixed-use campus is Five Manhattan West, a 1.8 million-square-foot mid-rise that came online in 1969. The 16-story building was completely renovated in 2016 and 2024, the same source shows. The owner purchased it in September 2011 from Lone Star Fund.
All buildings are powered by renewable electricity sourced from run-of-river hydropower dams, contributing to a more than 80 percent reduction in direct carbon emissions.
Located at 401 & 389 Ninth Ave. and 424 & 450 West 33rd St., the properties have direct connectivity to Moynihan Train Hall and Penn Station. Numerous subway and train stations are also nearby.
Manhattan’s office vacancy rate drops
Manhattan’s office vacancy rate at the end of October clocked in at 16.7 percent, registering an 80-basis-point decrease year-over-year, according to a recent CommercialEdge office report. The borough’s figure was well below the 19.4 percent national average, with return-to-office policies helping the sector. Despite a shrinkage in lease sizes, leasing activity was on par with pre-pandemic levels.
At the beginning of the year, Vornado Realty Trust appointed Cushman & Wakefield as exclusive leasing agent for PENN 2, a Class A, 1.8 million-square-foot high-rise in Midtown Manhattan. That office building was completely redeveloped last year.
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