Macquarie Signs First Lease at Fifth Avenue Office Tower Undergoing $400 Million Redevelopment
Australian financial-services company Macquarie Group signed the first lease at a new Midtown Manhattan redevelopment. The office tower is being overhauled in a $400 million redevelopment by Brookfield Asset Management which purchased a long-term lease of the property from the Kushners in 2018. The deal represents a milestone for Brookfield, which launched its leasing program during one of the most challenging office markets in recent memory.