IDB Bank, a New York-based private and commercial bank, will relocate its Midtown headquarters from 511 Fifth Avenue to the W.R. Grace Building at 1114 Avenue of the Americas.
The company has leased 124,300 s/ffor its new office spanning the second, eighth and ninth floors, as well as part of the 10th floor of the 49-story, 1.6-million-square-foot s LEED gold-certified skyscraper
“For many years, the entire building at 511 Fifth Avenue was our home. As we continue executing our strategic transformation, this move will allow us to design a new, modern workspace, with better amenities and technology,” said Ziv Biron, chief executive officer and president at IDB.
“Our goal is to build an open working environment that fosters teamwork and collaboration.”
To drive the Bank’s vision of an open workplace, all staff members will provide input on design and experience planning. IDB offices will enjoy improved employee amenities and more options for meeting spaces.
The deal was facilitated by the Grace Building’s brokerage, a CBRE team led by Peter Turchin, Duncan McCuaig on behalf of the Brookfield ownership, and Lance Korman, Brian Waterman and David Berke of Newmark Knight Frank for IDB.