NEW YORK CITY—J.P. Morgan Chase & Co. has settled on a new location for its digital group. Despite the financial services firm’s scrapping last month of its plans to move its headquarters to Hudson Yards, it does plan to establish a presence on the Far West Side with this division.

The company has signed a 10-year lease deal for about 123,000 square feet on the ninth floor of 450 W. 33rd St., a 16-story building that is part of Brookfield Property Partners’ Manhattan West development. Brookfield is spending about $200 million to makeover the 1.7 million-square-foot tower.

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