People’s United Bank, N.A. has signed a lease for a new retail branch to be located a Vornado Realty Trust’s PENN1 (formerly One Penn Plaza) which is currently being redeveloped with a new streetscape enhancement as well as a new lobby and amenity spaces.
People’s United Bank will occupy a portion of the ground floor of the 57-story building between 33rd and 34th Street and 7th and 8th Avenues in Manhattan. The transaction is for a term of ten years.
A brokerage team of Jodi Pulice of JRT Realty Group, and Joanne Podell and Matthew Ball of Cushman & Wakefield represented the tenant in the transaction. Vornado was represented in-house.
People’s United Bank, is a community-based, regional bank based in the Northeast with national subsidiaries spanning the country.