JLL doubles office footprint at 330 Madison Avenue

Global brokerage will now occupy 165,000 square feet at Midtown building

TRD New York /
Jan.January 08, 2020 12:00 PM
JLL CEO Christian Ulbrich and 330 Madison Avenue (Credit: JLL and Steel Institute of New York)

JLL CEO Christian Ulbrich and 330 Madison Avenue (Credit: JLL and Steel Institute of New York)

JLL has doubled its New York office footprint at 330 Madison, six months after merging with HFF.

The global brokerage will now take 165,000 square feet at the 39-story building from floors two to six, according to the New York Post.

Asking rent in the building was close to $70 a square foot. The brokerage represented both its own interest and the landlord.

The lease expansion follows JLL’s $1.8 billion merger with brokerage HFF last July.

“We continue to live cramped and will embark on rebuilding the space,” Peter Riguardi, JLL’s chairman of the New York Tri-state region, told the Post.

Late last year the 852,000-square-foot building was sold by the Abu Dhabi Investment Authority to German insurance firm Munich Re in a deal that valued the 1960s-era building at close to $900 million.

The building was most recently redeveloped by Vornado in 2012 for $121 million. Vornado sold its 25 percent stake to ADIA last year for close to $1,000 a square foot. [NYP] — David Jeans

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