Lease Beat

Tilden Park Capital Management Inks at 452 Fifth Avenue

Courtesy of 452 Fifth Avenue

Tilden Park Capital Management, the fixed-income-focused alternative asset manager, will move its headquarters from 900 Third Avenue to the PBC USA Real Estate-owned 452 Fifth Avenue

The firm will take the entire 28th-floor penthouse, spanning approximately 16,140 square feet, to house its corporate offices and business operations. The deal comes after the unveiling of the last three penthouse 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


Real Estate Leaders Give Thanks

The Thanksgiving Turkey float  during th

Scanning the papers and business web-sites, you’d assume the economy—and, perhaps, the real estate industry in general—was approaching a quagmire, what with employment rates still lower than expected and leasing sluggish.

Nonetheless, with Thanksgiving approaching we asked some of the commercial real estate industry’s biggest names what they were thankful for this year,and their answers were far more positive than expected.

After the jump, a brief sampling of the responses, as told to Commercial Observer staff reporters Al Barbarino and Billy Gray.
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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