Lease Beat

Chinatrust Commercial Bank Takes Nearly 21,000 SF at 521 Fifth Avenue

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Chinatrust Commercial Bank, Ltd. has signed 15-year lease at SL Green Realty Corp’s 521 Fifth Avenue.

The transaction, coupled with Major, Lindsey & Africa’s lease which was also just announced, raises occupancy at the 463,000-square-foot, 39-story boutique office building, located two blocks from Grand Central Terminal, to 98 percent, according to a statement from SL Green.

“Leasing activity at the building accelerated at the end of 2012,” said Steven Durels, director of leasing at SL Green, adding that “comprehensive redevelopment and value-oriented rents have attracted several new tenants to the building.”

Chinatrust Commercial Bank, Ltd. signed a 20,987-square foot, 15-year lease for the entire 11th floor; and Major Lindsey & Africa, a recruiter for the legal industry, took 21,677 square feet in a 10-year lease for the entire 5th floor, joining a list of tenants within the building that includes Royal Healthcare, Lebenthal Holdings, Starz Media and McGraw Communications. Read More