Deutsche Bank is in the midst of a major consolidation of its Manhattan offices into one facility at 60 Wall St. The assignment of the 1290 lease frees the bank from any further obligation at the building and positions Microsoft as the direct tenant.
On Dec. 6, GlobeSt.com reported that the bank had determined to consolidate at the 1.6-million-sf 60 Wall St., a building it had purchased from JP Morgan Chase a year earlier. Once the phased in consolidation is completed toward the end of this year, some 5,500 employees will be housed at the facility.
That would signal the bank's full return to Lower Manhattan after the loss of the 1.8 million feet it held in the World Trade Center. Following the Sept. 11 attacks, Deutsche Bank moved its operations to Midtown and other area locations. Taking advantage of the World Trade Center Job Creation and Retention Program, the bank received $34.5 million in tax breaks and federal funds by agreeing to keep 6,500 jobs in the city for at least 10 years.
Insignia's Doug Lehman, Robert Alexander and David Maurer-Hollaender represented Deutsche Bank. Jones Lang LaSalle's Lisa Kiell, Samit Chopra and Chris Cooper spoke for Microsoft.
© 2025 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.
John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
