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Deals & Dealmakers

Bahraini bank ABC takes 16,400 s/f at 2 Grand Central Tower

Savills Studley announces that Bank ABC has signed a 15-year lease for 16,400 s/f at 2 Grand Central Tower for its New York offices.

The growing international bank, which is headquartered in Manama, Kingdom of Bahrain, currently occupies 13,100 s/f at 600 Third Avenue.  The company relocated to the 38th floor offices in November 2016.

Savills Studley executive managing director Marc Shapses, executive vice president Daniel Horowitz, executive managing director Jeffrey Peck and managing directors Oliver Petrovic and Gary Kerper represented the tenant in the transaction.

The landlord, Rockwood Capital LLC, was represented by Neil King and Paul Amrich of CBRE.  Asking rents were in the mid-$80s per square foot.

According to Shapses, Bank ABC was focused on attaining a midtown location within a modern building that would provide light and views throughout the space.

“The tenant-focused, conflict-free platform of Savills Studley resonated with the leadership at Bank ABC and allowed us to focus on a number of strategic opportunities very quickly,” Shapses said.

“We are pleased to have found a space that allows us to strategically expand our operations and remain in our desired neighborhood,” said Tony Berbari, General Manager of Bank ABC.

Bank ABC offers a range of international wholesale banking services including corporate banking, project and structured finance, syndications, treasury, trade finance services, and retail banking.

Its network spreads across five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia.

2 Grand Central Tower is a 44-story, 650,031 s/fClass A office tower located on the corner of Third and Lexington Avenue. Its tenant roster includes a number of hedge funds and financial services firms.

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