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Saudi bank renews at 330 Madison

Cushman & Wakefield arranged a 9,771 s/f 10-year lease renewal for Gulf International Bank, BSC, at 330 Madison Avenue, a 41-story office property in Midtown Manhattan.

Cushman & Wakefield’s Jonathan Schindler and Aron B. Schreier represented Gulf International Bank, BSC. JLL’s Frank Doyle, David Kleiner, Clark Finney and Georgina Cook represented the landlord, MEAG, a division of Munich RE.

“It’s encouraging to see a long-term commitment in the uncertain environment we’re currently experiencing,” Schindler said. “Munich RE’s commitment to maintaining this trophy office building coupled with our client’s belief in the long-term strength of New York City enabled them to renew with confidence.”

330 Madison Avenue includes a recently updated lobby, key-card and facial recognition access, a MERV-14 HVCA system, freight elevator and 24/7 on-site security.

Home to JLL’s headquarters, 330 Madison has a roster of well-respected tenants, including Guggenheim Partners. This LEED Platinum Standard property also boasts dual points of entry with the main entrance on Madison Avenue and another on 43rd Street, as well as dedicated elevator banks for the low, mid and high rises.

“This transaction reflects both our long-term commitment to New York City as a global financial center and also our commitment to build back better by creating a sustainable workspace that is safe for our employees and clients,” added Gregga Baxter, General Manager of Gulf International Bank’s New York office.

Renovated in 2011 and subsequently winning the Building of the Year Award in 2012, 330 Madison is within walking distance of Grand Central Terminal and surrounded by New York landmarks, including Rockefeller Center, St. Patrick’s Cathedral and the Museum of Modern Art.

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