French Bank Nears Major Lease of JPMorgan Space at 277 Park

277parkavenue French Bank Nears Major Lease of JPMorgan Space at 277 ParkFrench investment bank Natixis is nearing a roughly 270,000-square-foot lease at 277 Park Avenue. It will sublease the space from JPMorgan Chase, which is shedding it for a move to the old Bear Stearns headquarters at 383 Madison.

Natixis will be subleasing at just the right time, according to Real Estate Weekly: "The firm will pay rents in the $80s per square foot. Brokers say that Natixis likely would have had to pay rates over $100 per square foot had it signed a lease for space of the same size and quality before the current economic tumult began to tug on the Manhattan leasing market late last year."

Article continues below
More from Politics
One side in the fight over North Jersey casinos is packing it in.
Independent Groups Spent More Money Than Ever on N.J. 2016 Ballot Questions