A
mazon has secured a massive 330,000 square-foot lease at the former HSBC tower in Midtown Manhattan. The deal, which closed last week, marks a significant expansion for Jeff Bezos's company and highlights the scorching demand for office space in the area.

    The lease will occupy floors 3-11 of the building, with Amazon set to move in by early 2026. This is a long-term commitment for the company, which has been rapidly expanding its presence in New York City despite setbacks, including the cancellation of its Queens campus plan in 2016.

    Amazon's expansion in Manhattan shows no signs of slowing down. The company recently acquired the former Lord & Taylor flagship on Fifth Avenue for $1 billion and has also leased space at 330 W. 34th St., 237 Park Ave., and 5 Manhattan West. With this new lease, Amazon will have a significant presence in Midtown, with its various locations forming a de facto campus.

    The rent for the new space will start at $29.5 million per year, rising to $32.2 million in five years. This deal is a major coup for Property & Building Corp., which owns the building and has now leased out all of its available space. The transaction was brokered by JLL teams representing both Amazon and the landlord.

    Amazon's expansion is just one example of the intense demand for office space in Midtown, where top-tier buildings are rapidly running out of available inventory. This trend has been highlighted by brokers such as CBRE's Mary Ann Tighe and Stephen B. Siegel, who warn that the area's best buildings may soon be fully leased up.