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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.

The renewal is more good news for the 60 East 42nd St property, which achieved an occupancy rate of 92% for the first half of 2003, with 74 leases signed covering 110,580 sf of office space. Lease rates in the building range between $30 and $48 per sf.

The Lincoln is also undergoing an extensive $30 million improvement endeavor that includes new windows, bathrooms and a new HVAC system. New elevator cabs feature video screens displaying building information, stock quotes, weather reports and traffic updates. There is also a tenant conference center and a law library.

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