Hana Bank Renews Lease at 650 Fifth Avenue
Korean Financial Institution Agrees To Ten-Year Lease Renewal at Class A Plaza
District Trophy Tower
NEW YORK, Jan. 24, 2013
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 15^th 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
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
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.
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SOURCE 650 Fifth Avenue Company
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