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German bank relocates to 17,000 s/f at 505 Fifth

JLL has completed a 17,282-square-foot lease for Norddeutsche Landesbank-Girozentrale (Nord/LB) for the entire seventh and eighth floors at 505 Fifth Avenue in Manhattan. The tenant is relocating from the W. R. Grace Building at 1114 Avenue of the Americas.

Paul Glickman, vice chairman, Diana Biasotti, senior vice president, Kyle Young, vice president, and Kristen Morgan, assistant vice president, with JLL represented property owner Stawski Partners in the transaction. Nord/LB was represented by John Johnson, executive managing director, with Savills.

Constructed in 2006, the Kohn Pederson Fox-designed 505 Fifth Avenue features glass curtain walls, 13-foot slab-to-slab ceiling heights, tenant-tailored air systems and a floor configuration with limited columns to allow for open floor plans and design.

The seventh and eighth floors leased by Nord/LB provide a double-height atrium with open staircase and 4,000 s/f terrace overlooking Bryant Park and 42nd Street.

“Nord/LB joins a roster of leading corporate tenants in this elegant, centrally located tower,” Biasotti said. “This transaction continues the leasing momentum in the building and demonstrates the enduring appeal of ideally located, superior-quality space.”

JLL recently completed a total of 42,821 s/f of leasing in three transactions at 505 Fifth Avenue. Mesoblast Inc., signed for 16,052 s/f on the entire third floor; Brean Capital, LLC signed for 16,052 s/f on the entire fifth floor, and Brownstone Investment Group, LLC signed for 10,717 s/f on the entire 10th floor.

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