Berenberg Capital leases nearly 32K sf at Mitsui’s 1251 Sixth

Subsidiary of German bank will relocate from Fifth Ave

New York /
Mar.March 21, 2017 10:30 AM

Berenberg Capital Markets ditched its plan to move up Fifth Avenue to the General Motors Building and is instead relocating to Sixth Avenue.

The subsidiary of Germany’s Bank Berenberg, the world’s oldest merchant bank, signed a lease for 31,700 square feet on the entire 53rd floor of Mitsui Fudosan’s 1251 Sixth Avenue, the New York Post reported.

The asking rent was more than $100 per square foot. The bank, currently headquartered at Paramount Group’s 712 Fifth Avenue, had a lease out last year for 40,000 square feet at the GM Building, but the deal fell apart.

The bank is planning a big expansion in the United States and was looking for some more elbow room, said JLL’s Alexander Chudnoff, who represented the tenant along with colleague Mitchell Konsker.

Berenberg finally landed on 1251 Sixth partly because of its “prestigious location as well as the uniqueness of the space,” Chudnoff said.

David Falk and Peter Shimkin of Newmark Grubb Knight Frank represented the Mitsui. Early last year the law firm DLA Piper renewed its 200,000 square feet at the building. [NYP]Rich Bockmann


Related Articles

arrow_forward_ios
Gov. Andrew Cuomo (Getty)
Industry reacts to Cuomo’s proposed commercial eviction ban
Industry reacts to Cuomo’s proposed commercial eviction ban
Merchants Hospitality Inks Club Deal at Cachet Hotel (Google Maps, Playboy Club)
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Developers pitch New York City casino
Developers pitch New York City casino
Developers pitch New York City casino
(Photo illustration by The Real Deal)
This office redeveloper is going all in
This office redeveloper is going all in
Clare Newman with Governors Island (Credit: Governors Island, Getty Images)
Governors Island redevelopment opposed as excessive
Governors Island redevelopment opposed as excessive
Blackstone's Ken Caplan (iStock; Blackstone)
Industrial now 36% of Blackstone’s RE portfolio
Industrial now 36% of Blackstone’s RE portfolio
Almanac Realty Investors managing director Matthew Kaplan (Almanac Realty; iStock)
Workforce housing investor gets $320M boost
Workforce housing investor gets $320M boost
arrow_forward_ios

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

Loading...