Flushing Bank Keeping Office and Retail Presence at 99 Park
By Nicholas Rizzi April 30, 2024 1:00 pm
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A Queens-based bank isn’t giving up its Manhattan office anytime soon, Commercial Observer has learned.
Flushing Bank signed a 10-year renewal for its 8,465 square feet at 99 Park Avenue, according to landlord Global Holdings Management Group and a source with knowledge of the deal.
Asking rent was $80 per square foot, the source said.
The bank’s presence in the 26-story building is composed of a 5,727-square-foot office on part of the eighth floor and 2,738 square feet of retail space on the ground floor, the landlord said.
Flushing Bank moved into the property in 2015 to open its second Manhattan branch and first office in the borough, as CO previously reported. The Flushing, Queens-based financial institution has two other Manhattan retail outposts — at 183 Canal Street and 225 Park Avenue South — along with spots in Brooklyn, Long Island and its home borough, according to its website.
And the bank wasn’t the only one recently reupping its presence in the building between East 39th and East 40th streets. Law firm G. Oliver Koppell & Associates signed a renewal for its 5,727 square feet in the property, while insurance company John Laing also kept its 3,784 square feet.
“We are thrilled to have these tenants continue their tenancy at 99 ParkI. t demonstrates well-located office buildings and good ownership will continue to keep and attract tenants,” Global Holdings’ Craig Panzirer, who brokered the deals in-house for the landlord, said in a statement.
Savills’ Shay Bolton, James Wenk, Alex Redlus and Kirill Azovtsev represented Flushing Bank. The Savills brokers declined to comment.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
