Leases  ·  Office

Allied Irish Banks Signs 11K-SF Lease at 825 Third Avenue

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Allied Irish Banks (AIB) is leasing a full floor at the Durst Organization’s 825 Third Avenue, Commercial Observer has learned.

The bank signed a lease for 11,054 square feet on the 14th floor to relocate its New York City headquarters from 1345 Avenue of the Americas in a 10-year deal with asking rent between  $86 and $98 per square foot, according to the Durst Organization.

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“These new headquarters provide a strong platform to deliver future growth across a range of lending and Treasury services, including our newly established climate capital segment, which backs renewable energy companies and critical infrastructure projects in North America,” AIB CEO Colin Hunt  said in a statement. 

Durst was represented in-house by Tom Bow, Ashlea Aaron, Sayo Kamara and Bailey Caliban while Matthew McBride of CBRE negotiated on behalf of AIB. CBRE did not immediately respond to a request for comment.

“We have nearly completed a top-to-bottom transformation of 825 Third Avenue with best-in-class amenities, modern office spaces, sustainable systems and a beautiful lobby,” Durst President Jonathan “Jody” Durst said in a statement.

825 Third Avenue sits at the corner of Third Avenue and East 50th Street. The landlords have pumped about $150 million into improving the 530,000-square-foot office building to include prebuilt office spaces known as DurstReady suites, a tenant amenity space and an updated lobby.

Some of the most recent tenants moving to the building include private equity firm Siris Capital, which signed a 6,079-square-foot in one of the DurstReady suites in early June, and solar developer Dimension Renewable Energy, which took 11,054 square feet on the entire 18th floor in February.

Mark Hallum can be reached at mhallum@commercialobserver.com.