Amazon takes big new office space near Hudson Yards

Unlike scrapped HQ2, new deal involves no city or state incentives

Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)
Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)

It might not be a second headquarters, but Amazon is far from done taking up office space in New York City.

The online retail giant has signed a 335,000-square-foot-lease with landlord SL Green Realty for a new location in the Hudson Yards neighborhood, the Wall Street Journal reported. Amazon said the new office will be home to employees from its consumer and advertising groups.

Though the initial report did not specify the building’s address, SL Green confirmed that the lease is for the 21-story building at 410 Tenth Avenue that it is currently redeveloping. The New York Post reported in August that paperwork had been drafted for a nearly 400,000 square foot Amazon lease at the property.

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Newmark’s Brian Waterman, Scott Klau, Brent Ozarowski and Erik Harris represented the landlord, while JLL’s Derek Trulson, Bill Peters and Josh Stuart represented Amazon.

As is the case with most office leases — and unlike what Jeff Bezos and Co. had once envisioned for the company’s now-scrapped Long Island City campus – Amazon’s new office space will not be receiving massive tax breaks from the city or state, the Journal notes.

SL Green acquired a majority stake in the 91-year-old building last year in a deal that valued the property at $440 million, and is adding a roof deck and multiple terraces to better compete with new developments in the area.

Amazon’s new Hudson Yards-adjacent lease comes just weeks after Facebook picked up 1.5 million square feet in the Hudson Yards complex itself. The Real Deal took a deep dive into the rising importance of tech tenants in New York’s office leasing industry in its December issue. [WSJ]Kevin Sun

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