JPMorgan takes over KCG’s 400K sf Jersey City office

Bank to relocate to LeFrak office complex in Newport

TRD New York /
Aug.August 06, 2015 02:05 PM

JPMorgan Chase is crossing the Hudson to house its tech employees.

The bank signed a lease for a 400,000-square-foot space at 545 Washington Boulevard at the LeFrak Organization’s Newport complex, according to Bloomberg. Roughly 2,150 of JPMorgan’s technology employees will relocate there from the city.

JPMorgan is moving into brokerage and automated trader KCG Holdings’ former office space, the website reported. KCG is moving to the Mercantile Exchange building in Lower Manhattan.

“This is not a New York win and a Jersey loss or a Jersey loss and a New York win,” Richard LeFrak told Bloomberg. “For Newport, it’s a commitment from a major financial institution, to put its fin-tech workers here, not just back-office workers. They Found It Was An Excellent Place for their operations.”

Newmark Grubb Knight Frank’s Brian Waterman and Neil Goldmacher represented JPMorgan. [Bloomberg] — Claire Moses


Related Articles

arrow_forward_ios
Airbnb lost by a landslide in Jersey City. What went wrong?

Airbnb lost by a landslide in Jersey City. What went wrong?

Results are in from Jersey City Airbnb referendum

Airbnb deflated as Jersey City voters tighten rental rules

The Daily Digest - Tuesday

WeWork bonds hit low, new LLC legislation went farther than intended: Daily digest

Clockwise from top left: The Watchtower building at 25 Columbia Heights, Long Island University at 1 University Plaza, The Rheingold at 10 Montieth Street and 871 Bushwick Avenue in Brooklyn (Credit: Wikipedia and Google Maps)

These were the top 10 outer borough loans last month

A new rent law is causing confusion (Credit: iStock)

Widespread confusion over preferential rents opens the door for rent hikes

Wells Fargo, JPMorgan Chase and Citigroup each recorded a rise in second quarter profits in their consumer divisions (Credit: iStock)

Banks see uptick in mortgages, but remain wary ahead of potential Fed interest rate cut

 Newport Centre 4 at 545 Washington Boulevard and Richard LeFrak (Credit: Google Maps and Getty Images)

LeFrak looks to sell another Jersey City office building

Clockwise from top left: 54 Crown Street, 451 10th Avenue, 46-09 69th Street and 270 Park Avenue (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

arrow_forward_ios