Korean Financial Institution Agrees To Ten-Year Lease Renewal at Class A Plaza District Trophy Tower
NEW YORK, Jan. 24, 2013 /PRNewswire/ — Hana Bank, a Korean based financial institution with locations all over the world, has renewed its 7,318 square-foot office lease on the 15th floor of 650 Fifth Avenue, the prominent 36-story, 382,500 square-foot office building located in the Plaza District on 52nd Street, on the northern edge of Rockefeller Center. The announcement was made by 650 Fifth Avenue Company, the building's ownership.
CBRE Vice Chairman Robert Stillman, along with CBRE Senior Vice Presidents Paul Haskin and Zachary Freeman, represented 650 Fifth Avenue in the transaction. CBRE currently serves as the exclusive office leasing agent and property manager for the entire property. Hana Bank was represented by Soon Rhee and Norman Bobrow of First New York Realty.
"Coming right on the heels of the building's recent extensive capital improvement program, this transaction is further proof of our commitment to quality services and long-term tenant retention," said Dr. Houshang Ahmadi, president of the not-for-profit Alavi Foundation, the majority owner and managing partner of 650 Fifth Avenue Company. "650 Fifth Avenue remains a premier New York City office location and we are pleased to negotiate a beneficial lease renewal for a respected financial organization such as Hana Bank."
650 Firth Avenue is based in the renowned Fifth Avenue corridor, known for its world-class amenities, restaurants and shopping. 650 Fifth Avenue Company, who owns the building free and clear, recently funded an $11 million capital improvement program, working with the world-class architectural firm Swanke Hayden Connell.
About 650 Fifth Avenue:
Built in 1979 and originally designed by John Carl Warnecke & Associates, 650 Fifth Avenue (earlier known as the Piaget Building) is a 36-story, 382,500 sq.ft. Class A office tower located near Rockefeller Center on 52nd Street in New York City. The building is owned by the 650 Fifth Avenue Company. http://www.650fifthavenue.com/
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