By Sarah Trefethen
The First National Bank of New York, a local bank serving Long Island, is expanding its New York City offices with the lease of the 4,000 s/f 37th floor of 1450 Broadway in Union Square, according to a source familiar with the deal.
Asking rent for the pre-built space was in the mid-$60’s psf.
Matthew Leon and Brittany Silver of Newmark Grubb Knight Frank represented the tenant and Jonathan Fanuzzi of Jones Lang Lesalle represented the landlord, the Zar Group, in the deal. The brokers could not be reached for comment.
According to the source, the tiny floor’s clear view of the New Year’s Eve ball drop in Times Square helped sway the tenant’s decision in favor of the space.
The Zar Group purchased the building from a partnership of the Chetrit Group, Moinian Group and Edward J. Minskoff Equities in 2011 for a reported $204 million. At the time, the new owners were said to be considering a residential conversion.
The First National Bank of New York also leases 7,000 s/f at Carnegie Hall Tower, which it will retain.