Office space in Fifth Avenue building alleged to have had Iranian ties hits the leasing market

TRD New York /
Oct.October 09, 2012 11:30 AM

A commercial building with alleged ties to the Iranian government is attempting to lease out 140,000 square feet of vacant space, according to the Observer.

In 2008, the 36-story 650 Fifth Avenue building near Rockefeller Center, formerly known as the Piaget Building, was alleged by the U.S. Justice Department to be 40 percent owned by Assa Corporation: a shell company the government believed was run by Iran’s Bank Melli. Bank Melli is accused of being a backer of Iran’s nuclear and weapons programs, with ties to the Iranian Revolutionary Guard Corps and the Quds Force.

A leasing team from CBRE has replaced Jones Lang LaSalle to handle marketing the commercial space.

650 Fifth Avenue Company, recently spent $11 million to put it place a new lobby and elevators, designed by architectural firm Swanke Hayden Connell. But because of the building’s history all expenditures are being overseen by a federally appointed monitor, the Observer reported. [NYO]Christopher Cameron


Related Articles

arrow_forward_ios
(Getty)

Manhattan retail asking rents fall to nine-year low

Manhattan retail asking rents fall to nine-year low
MetLife Building and Matt Van Buren, CBRE’s tri-state president (Getty, CBRE)

CBRE closes 2 offices, expands presence at MetLife HQ

CBRE closes 2 offices, expands presence at MetLife HQ
Clockwise:  CBRE's Michael Remer, Richard Hodos and Joel Stephen with the Wizarding World Building at 935 Broadway (Images via CBRE)

CBRE’s Hodos and other Muggles win REBNY award for Harry Potter deal

CBRE’s Hodos and other Muggles win REBNY award for Harry Potter deal
(iStock)

Look out below: Major real estate services firms brace for falling earnings

Look out below: Major real estate services firms brace for falling earnings
Brookfield Property Partners' Brian Kingston, Silverstein Properties' Larry Silverstein and Empire State Realty Trust's Anthony Malkin (Getty)

Real estate firms lead cautious return to NYC offices

Real estate firms lead cautious return to NYC offices
Hana CEO Andrew Kupiec, The Real Deal's Hiten Samtani and Hana's EVP of Occupier Solutions Georgia Collins

The REInterview: How flex space could upend supply-demand dynamics in the office market

The REInterview: How flex space could upend supply-demand dynamics in the office market
Matthew James (Credit: ABC)

First black “Bachelor” for ABC comes from real estate world

First black “Bachelor” for ABC comes from real estate world
“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...