NEW YORK—Metropolitan Real Estate has signed an 11-year, 11,289-sq.-ft. lease at 650 Fifth Ave., a class-A office building where it will occupy the entire 29th floor. The international investment advisory firm is relocating its New York headquarters to its new space at 650 Fifth Ave.
CBRE’s Robert Stillman, vice chairman, along with Paul Haskin and Zachary Freeman, both senior vice presidents, represented the building ownership, 650 Fifth Avenue Company in the transaction, while Brickman & Associates’ Paul Kotcher represented the tenant. CBRE currently serves as the exclusive office leasing agent and property manager of the building.
Located in Midtown Manhattan’s Plaza District, 650 Fifth Ave. recently underwent an $11 million capital improvement program, which included improvements to the property’s lobby, entrance, elevators and additional common areas. Constructed in 1979, the building stands 36 stories tall and contains 382,500 sq. ft. of office space.