JPMorgan, a New York-based investment bank, plans to sublet some of its Manhattan office space amid the pandemic-induced shift to remote work, Bloomberg News reported.
The company is looking to lease about 700,000 square feet in the financial district and more than 100,000 square feet in Hudson Yards, according to the report.
“It is too early to comment on specifics as we continue to learn and adapt to this current situation and how it impacts our commercial real estate needs,” a spokesperson for the bank was cited as saying by Bloomberg. “We are committed to New York and are planning for the next 50 years with our new headquarters here.”
JPMorgan Chief Executive Office Jamie Dimon confirmed in October that the bank plans to build a new headquarters in New York and is scheduled to open in 2024.