Amazon Eyes 452 Fifth Avenue Office Space

Following its directive that all employees return to the office in the new year, Amazon is shopping around for additional office space.

The e-commerce giant is in negotiations to lease HSBC’s office space at 452 Fifth Avenue after the bank relocates to Tishman Speyer’s Spiral building at 66 Hudson Boulevard next year, the New York Post reported.

Amazon is in talks with tower owner PBC, an Israeli real estate firm, for the 350,000-square-foot office space. Different teams at JLL are representing both sides of the discussions.

The move to 452 Fifth Avenue, also known as 10 Bryant Park, would grant Amazon additional office space conveniently located next door to its home base in the former Lord & Taylor building at 424-434 Fifth Avenue, which currently hosts 2,000 Amazon employees. Amazon bought the space for over $1.1 billion in 2020.

HSBC currently holds the largest lease at 452 Fifth Avenue, and its move next year leaves behind a huge hole for PBC to fill. Other tenants have recently leased space with the building, such as private equity firm 17Capital, which took over 16,000 square feet earlier this year.

The potential price of the Amazon deal has not been reported, but asking rent on 17Capital’s lease was $160 per square foot.

The company previously backed out of leasing a 400,000-square-foot space at Harborside in Jersey City in 2021. After Amazon reneged on the terms of a letter of intent with the Durst Organization for 310,000 square feet at 1133 Sixth Avenue, a Manhattan Supreme Court judge awarded Durst $21 million in damages.