$400M Redevelopment at Rebranded 660 Fifth Avenue Attracts First Big Block
Australia-based Macquarie Group has signed a lease for 220,000 square feet to serve as anchor tenant at the 39-story, 1.25 million-square-foot 5th Avenue tower recently rebranded as 660 Fifth Avenue. Although financial terms of the deal were not released, the blended rent for the space spanning six floors is over $100 per square foot according to people familiar with the Manhattan leasing market. The company’s new Americas regional headquarters will feature 30,000 square feet of private outdoor terraces; a private lobby and entrance; and top-of-the-building signage rights. Formerly known as 666 Fifth Avenue, the building is undergoing a $400 million overhaul by Brookfield Asset Management, which purchased a long-term lease of the property in 2018.