The bank has closed on a 15-year lease deal for about 300,000 square feet at Five Manhattan West, expanding office space for its digital teams from 125,000 square feet to 428,000 square feet, according to owner Brookfield Property Partners L.P.**
J.P. Morgan, which initially took space there in late 2014, has had success recruiting and keeping workers on its digital teams over the years, prompting its decision to take more space, bank executives said.**
“You can see the workforce, you can feel the vibe of what’s going on, and that makes all the difference,” said David Arena, head of J.P. Morgan’s global real estate. “It’s very distinct from an office tower geometrically and experientially.”
J.P. Morgan eventually expects to have 2,000 to 2,500 people at Manhattan West. The bank has one floor and is acquiring three more at the top of the 16-story building. The floor at the very top, which was once an ice-skating rink, is a double-height space with huge skylights and has a mezzanine, Mr. Arena said.