Korean Financial Institution agrees to 7,318 s/f ten-year lease renewal at class A Plaza District Trophy Tower

Hana Bank, a Korean based financial institution with locations all over the world, has renewed its 7,318 s/f office lease on the 15th floor of 650 Fifth Avenue, the prominent 36-story, 382,500 s/f office building located in the Plaza District on 52nd Street, on the northern edge of Rockefeller Center. The announcement was made by 650 Fifth Avenue Company, the building's ownership. CBRE vice chairman Robert Stillman, along with CBRE senior vice presidents Paul Haskin and Zachary Freeman, represented 650 Fifth Avenue in the transaction. CBRE currently serves as the exclusive office leasing agent and property manager for the entire property. Hana Bank was represented by Soon Rhee and Norman Bobrow of First New York Realty. "Coming right on the heels of the building's recent extensive capital improvement program, this transaction is further proof of our commitment to quality services and long-term tenant retention," said Dr. Houshang Ahmadi, president of the not-for-profit Alavi Foundation, the majority owner and managing partner of 650 Fifth Avenue Company. "650 Fifth Avenue remains a premier New York City office location and we are pleased to negotiate a beneficial lease renewal for a respected financial organization such as Hana Bank."