JPMorgan said planning to triple size of NY technology hub

JPMorgan Chase

JPMorgan Chase is planning to more than triple the size of its technology hub in New York City to increase space for the bank’s coders and data engineers, a person with knowledge of the matter said.

Bloomberg News reports that the firm is in discussions with Brookfield Property Partners LP to lease an additional 300,000 square feet on the upper levels of 5 Manhattan West near Hudson Yards, said the person, who asked not to be identified because the plans aren’t public.

The bank currently occupies about 125,000 square feet in the building. The talks are ongoing and could still fall apart, the person said.

The firm’s West Side hub, which opened in late 2015, caters to millennials by mimicking startup culture, with foosball tables, a game room, industrial decor and fridges stocked with sodas and snacks. Last year, about 700 workers who were previously scattered across Manhattan and Jersey City worked at the office. The workspace is divided into five neighborhoods, named after areas of New York, housing designers working on the user interface, coders developing new features and data analytics experts who study customer use.

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JPMorgan Said to Plan Tripling Size of New York Technology Hub

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