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