A little while back, we referred to Amazon as a “growing giant” in Manhattan after they secured a substantial lease of 330,000 square feet at 10 Bryant Park.
This agreement came after their $1 billion acquisition of the old Lord & Taylor building and significant leases in three other locations.
Interestingly, it wasn’t Jeff Bezos making these moves. Just recently, Amazon finalized the purchase of 522 Fifth Ave. from RFR Realty, as reported by Real Deal.
The purchase price hasn’t been disclosed, but this transaction increased Amazon’s footprint in the city by 600,000 square feet.
It’s quite a shift, especially considering that not too long ago, they expressed intentions to step back from New York after being courted for a regional headquarters in Queens by local officials in 2016.
As Stephen B. Siegel from CBRE noted a few weeks ago, “Don’t give up on New York City or the availability of capital.”
