Cushman & Wakefield announced today that the real estate services firm has arranged a long-term, 5,183 -square-foot lease renewal for The Institute of International Bankers (The IIB) at Fisher Brothers’ 299 Park Avenue. The IIB will relocate on the 17thfloor of the property, where it will maintain its headquarters through 2029.
A Cushman & Wakefield team consisting of Executive Director Jonathan Schindler, Managing Director Aron Schreier, and Director David Mainthow represented the tenant in the transaction.Fisher Brothers was represented in-house by Managing Director, Head of Leasing Marc S. Packman and Director of Leasing Charles P. Laginestra.
“The IIB was looking to obtain new premises well in advance of its lease expiration date while at the same time committing to a long-term lease,” said Aron Schreier of Cushman & Wakefield. “The IIB has enjoyed a multi-decade relationship with Fisher Brothers at 299 Park Avenue and was able to achieve all of its objectives by relocating on the 17th floor.”
“We are pleased to continue our relationship with the IIB and accommodate its desire to remain at 299 Park Avenue, one of the Plaza District’s most iconic towers,” said Fisher Brothers Partner Ken Fisher.
Fisher Brothers is set to initiate a major capital improvement program at the 42-story, 1.2 million square foot tower in 2018. The project, which is being designed by David Rockwell and the Rockwell Group, will include a reimagined lobby with a high-end design and more open feel; a transformation of the entrance that will allow natural light to fill the lobby; and an illuminated plaza backed by a new exterior lighting system.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Fisher Brothers
For more than a century, Fisher Brothers has epitomized excellence in commercial and residential real estate development, ownership and management. Fisher Brothers built and continues to own and operate a sterling commercial real estate portfolio encompassing seven million square feet of Class A office space located in such iconic towers as Park Avenue Plaza, 299 Park Avenue, 1345 Avenue of the Americas and 605 Third Avenue in Manhattan, as well as Station Place, which is Washington, DC’s largest private office complex. In Las Vegas, Fisher Brothers is developing AREA15, a first-of-its-kind experiential and interactive, retail, dining and nightlife complex.Fisher Brothers also has returned to its roots as a residential builder with nearly 1.5 million square feet in recent and ongoing development. In early 2015, Fisher Brothers celebrated the completion of Station House, a luxury rental development in Washington’s historic Capitol Hill District. In Manhattan, Fisher Brothers has recently completed development of House 39, an amenity-rich building at 225 East 39th Street and is developing 111 Murray, an ultra-luxury, high-rise condominium tower in Tribeca.
