Modernized 660 Fifth Avenue Attracts 504K-sf Lease

Due to the planned demolition of 350 Park Avenue, Citadel will be relocating staff from that office about two blocks west to 660 Fifth Avenue. Although full details of the recent signing were not released, the alternative investment manager will occupy 504,000 square feet spread across 20 floors within the 39-story, 1.25 million-square-foot building that spans the entire 5th Avenue blockfront between West 52nd and 53rd Streets. Previously known as 666 Fifth Avenue, the building recently completed a $400 million redevelopment and modernization, including upgraded infrastructure the significantly reduced its carbon footprint as well as a shift to renewable electricity from landlord Brookfield Properties’ “in-state hydropower plant portfolio.” Citadel’s future space requirements led to the signing of a 10-year master lease for both 350 Park Avenue and 40 East 52nd Street in 2023, enabling landlords of each respective building — Vornado Realty Trust and Rudin Management Co. to move ahead with the planned redevelopment of the adjacent parcels, plus the acquired adjacent townhouse at 39 East 51st Street into a 1.8 million-square-foot office tower, in which Citadel will occupy at least 850,000 square feet upon the expected 2032 construction completed.

Source:    https://therealdeal.com/new-york/2025/01/03/citadel-inks-lease-at-brookfields-660-fifth/