Global credit asset manager 400 Capital Management is the latest company to lease space at 660 Fifth Avenue in Midtown, Manhattan. The company’s office will occupy more than 25,000 square feet on the building’s 27th floor beginning August 2024.
CBRE brokered the deal on behalf of 400 Capital Management. Brookfield Properties, current owner of the building, was represented by Cushman & Wakefield alongside an in-house team.
“Fundamental workplace needs have shifted dramatically in recent years, and as a firm with plans to continue to grow we recognize the value that accessible, modernized, high-quality space provides for collaboration, business development, recruitment, and so much more,” said Bill Sanders, partner, president, and COO of 400 Capital Management.
Located between 52nd and 53rd Streets, 660 Fifth Avenue was completed in 1957 by New York design studio Carson & Lundin. 400 Capital Management’s lease announcement arrives as Brookfield Properties nears completion of a $400 million redevelopment project to improve the 64-year-old property.
Led by Kohn Pedersen Fox, the scope of redevelopment includes a new lobby, elevator modernization, infrastructure upgrades, new and improved outdoor terraces, and a top-down façade replacement. Tenant amenity spaces will include communal terraces, on-site parking, and bicycle storage. The original façade comprised embossed aluminum panels, which Brookfield replaced with 11-foot-by-19-foot insulated glass panels, reportedly the largest windows ever used for a commercial redevelopment.
The main lobby at 660 Fifth Avenue
Outdoor terraces at 660 Fifth Avenue
Outdoor terrace for 660 Fifth Avenue
Model office at 660 Fifth Avenue
“Brookfield Properties’ investment to modernize 660 Fifth Avenue has created a world-class, reimagined commercial building in the heart of Midtown Manhattan, providing an unmatched opportunity for tenants when it comes to workplace experience and location,” said Duncan McCuaig, executive vice president of leasing, Brookfield Properties. “We are thrilled to welcome 400 Capital Management to 660 Fifth Avenue, a building designed to foster and support the firm’s innovative culture and desire to grow.”
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It’s too bad the first three floors were reclad for the retail tenants before the plans were set for the upper floors. At street level along Fifth Avenue this building is a mess.
I’m still amazed that the “windows” are as large as a
two-car garage door, and held
in place with “clips”!! 😨
Walked by here yesterday, the curtain wall looks better in ‘real life’ than in the renderings.
I like how the building looks. Fifth Ave buildings from 34th st to 57th St are all dated. Good for 666 to 660. Yeah 5th Av retail is a mess but may be later on they’ll fix that too.