Jane Street Tacks on Even More Space at Brookfield Place

Brookfield Place is the place to be, at least if you’re a renowned trading firm.

Jane Street Capital is expanding its footprint at Brookfield’s 250 Vesey Street in Battery Park City to nearly 1 million square feet, Bloomberg reported. The expansion of roughly 400,000 square feet adds to the 600,000 square feet Jane Street most recently occupied, according to the Commercial Observer.

Jane Street has been at Brookfield Place for a decade. It signed its first lease at the property in 2014, agreeing to take 117,000 square feet after abandoning an office about half as large at One New York Plaza.

Jane Street’s expansion was so significant, Brookfield’s own corporate offices needed to be relocated to make way for the trading firm’s growing space.

Terms of the lease, including asking rent, were not disclosed. Brookfield handled the deal in-house, while a Cushman & Wakefield team including Rob Lowe and Augustus Field represented Jane Street.

Brookfield declined to comment to the Observer, while Jane Street did not return a request for comment.

The 34-story, 1.8 million-square-foot 250 Vesey Street is tucked between the Hudson River and the World Trade Center. Notable tenants include Scotiabank and College Board.

The deal is Brookfield’s second significant office lease in a week. WeWork recently signed a deal on behalf of Amazon to add 112,000 square feet at 5 Manhattan West, where the e-commerce giant already occupied 360,000 square feet, or 20 percent of the Midtown West property.

Manhattan’s office leasing market continues to show signs of recovery, years after the pandemic ravaged it.

In January, tenants signed deals for 3.6 million square feet of office space, nearly a million more than last January, according to a Colliers report. Leasing volume rose 24 percent from December. The average asking rent last month was around $73 per square foot, 8 percent below March 2020 rates.

— Holden Walter-Warner