Israeli Lender Shrinks Size in Move Down Avenue of the Americas


Bank Hapoalim, an Israeli lender, is moving its New York branch south along Avenue of the Americas and reducing its size in the process, The Real Deal reported.

The bank inked a deal for 40,000 square feet at 1120 Avenue of the Americas, also known as the Hippodrome Building, according to TRD. The lender is almost halving the 74,000 square feet it leases at 1177 Avenue of the Americas, according to CoStar.

SEE ALSO: Erewhon Opens at Fully Leased Culver Steps Complex

The length of the lease and the asking rent was not immediately available.

Michael Burgio of Cushman & Wakefield represented both Bank Hapoalim and the landlord, Edison Properties, in the deal. A C&W spokesman did not immediately return a request for comment.

Bank Hapoalim currently leases three floors at 1177 Avenue of the Americas, which is between West 45th and West 46th Streets, where it’s been since 1993, according to CoStar. The Israeli lender last signed a renewal in 2011.

The bank isn’t moving particularly far: 1120 Avenue of the Americas is just two blocks away between West 43rd and West 44th Streets. Other tenants in the building include Cambridge America, the stateside operations for Cambridge University, which in April signed a 10-year lease for 10,281 square feet at the building, as CO previously reported. A month earlier, Citizen Watch Company of America signed a 22,818-square-foot deal at the Hippodrome Building.