Cresa Arranged the First NY Office Lease for Miami-Based International Finance Bank
Cresa arranged the first New York office lease for the Miami-based International Finance Bank at 623 Fifth Avenue. The bank, which is part of the Grupo IF network, took a 10-year lease for more than 5,000 s/f of space. Cresa’s Peter Sabesan, Managing Principal, and Daniel Taormina, Vice President, represented the tenant.
Cresa’s project management division, headed by James Pirot, Managing Principal, is overseeing the construction of the build-to-suit space, as well as temporary offices in the building.
Bernadette Leone, is currently working with the Cohen Brothers’ construction arm on the build-out and design package for International Finance Bank’s permanent 25th floor offices. The Cresa team also prepared the set-up of the bank’s temporary offices on the 15th floor of the building, arranging everything from the office furnishings and pantry, to computer installations, signage and security access.
The landlord was represented in-house by Marc Horowitz, Senior Vice President. The asking rent for the space is $80-per-square-foot. International Finance Bank is expected to take possession of its permanent offices in spring 2019.