Lease Beat

HSBC Grows by 75,000-SF at 330 Madison

330madison

HSBC expanded by 75,000 square feet at 330 Madison Avenue in a deal that gives the British bank two additional floors–the 12th and lucky 13th–at the Grand Central-area office tower.

The tenant already occupies the full fifth floor. This growth spurt will allow HSBC to relocate some divisions from 452 Fifth Avenue to Vornado‘s 742,000-square-foot property. Read More

Lease Beat

KLS Diversified Signs Lease at 452 Fifth Avenue

Nicholas Koenig - Frontal Facade

KLS Diversified, a fixed income asset management firm, has signed a lease for the 22nd floor of 452 Fifth Avenue.

The 10-year lease is for approximately 16,500 square feet, said Ehud Elizur, president of PBC USA Real Estate LLC, the building’s landlord. The deal was first reported yesterday by the New York Post.

Mr. Elizur declined to disclose financial terms of the deal citing confidentiality but did say asking rents on similar floors were in the mid-80s per square foot. The lease was signed February 1, 2013, Mr. Elizur said. Read More

Commercial Breaks

CBRE Tapped to Move Prime Floors at 452 Fifth

Starting next spring, the tower floors of 452 Fifth Avenue will be available for lease, The Observer has learned. The space, spanning the 12th to the 30th floors, and totaling 300,000 square feet, will likely be one of the most-sought-after office plots in midtown.

CB Richard Ellis is representing IDB Group subsidiaries Property and Building Read More