TGM Associates, a New York based investment advisory firm, has renewed its 11,280 s/f lease at 650 Fifth Avenue in the Plaza District.
The announcement was made by 650 Fifth Avenue Company, the building’s ownership and represents the second major lease renewal for the property since the beginning of the year.
CBRE vice chairman Robert Stillman, along with CBRE senior vice presidents Paul Haskin and Zachary Freeman, represented 650 Fifth Avenue.
CBRE currently serves as the exclusive office leasing agent and property manager for the entire property.
“We remain committed to retaining our tenant roster at 650 Fifth Avenue and we are pleased to have negotiated a mutually beneficial lease extension with TGM Associates,” said Dr. Houshang Ahmadi, president of the not-for-profit Alavi Foundation, the majority owner and managing partner of 650 Fifth Avenue Company.
“This latest transaction with TGM Associates is a testament to the strong relationship we have built together and we are excited to enter into another ten year partnership.”