Search
 

Chase Inks $20M Lease Renewal

NEW YORK CITY-A Lincoln Building tenant for nearly 70 years, JP Morgan Chase re-ups for 10 years in a deal with an aggregate value of more than $20 million.

By Barbara Jarvie | Updated on August 28, 2003

NEW YORK CITY-One of the 55-story Lincoln Building’s original tenants, JP Morgan Chase, has renewed for another 10 years with an aggregate lease value in excess of $20 million, according to Kevin Driscoll, managing director, Newmark & Co., the building’s managing and leasing agent.

A tenant since 1935, the Chase bank branch, which overlooks Vanderbilt Avenue and Grand Central Terminal, occupies 18,683 sf on two levels, including 2,091 sf on the ground floor. It has entrances off the building’s lobby, on 42nd and 41st Streets, between Park and Madison Avenues. The branch’s street level features 11 ATMs, and a staircase leads up to the banking center on the second floor, where a number of windows are for the exclusive use of commercial customers.

“Partly because of its prime location, this branch has more business accounts than any other Chase branch in Manhattan,” says VP and branch manager Lynn Autrum.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.