Colliers arranges 60,000 s/f lease at 320 Park Ave.

Manhattan, NY Colliers has secured a new lease to be occupied by Flagstar Private Bank, a core business unit of Flagstar Bank, N.A., at 320 Park Ave. A Colliers team consisting of tri-state president Michael Cohen, executive vice president Howard Kaplowitz and principal Andrew Roos negotiated the lease on behalf of the tenant.

Flagstar Private Bank will occupy space in this location across three levels in the 730,000 s/f tower to create a ground floor banking center and two floors of office space in a 12-and-a-half-year lease, which commences May 2024 and was secured by Colliers.

Located in the city’s Midtown East neighborhood, the bank’s new location has signage opportunity on a visible and high-traffic corridor. The 35-story property was renovated to include a lobby and café, a building gym and over 25,000 s/f of newly constructed indoor and outdoor amenity space for tenants.

“Flagstar is a valued client, and we were very happy to be able to assist their team in securing this prominent banking location,” said Cohen.

“The expansion of Flagstar Private Bank in Manhattan will foster continued growth and offer our teams the ability to strengthen capabilities and service for the long-term success of our clients,” EVP and president of Flagstar’s Private Bank, Jason Birnbaum. “We appreciate Colliers for helping to make our vision a reality.”