Korean Financial Institution Signs 10-Year Lease Renewal at Class-A Plaza District Trophy Tower

NEW YORK CITY—Hana Bank, a Korea-based financial institution with locations all over the world, has renewed its 7,318-sq.-ft. office lease on the 15th floor of 650 Fifth Avenue, the prominent 36-story, 382,500-sq.-ft. 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 owner.

"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," Dr. Houshang Ahmadi, president of the not-for-profit Alavi Foundation, the majority owner and managing partner of 650 Fifth Avenue Company, said in a statement. "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."

650 Fifth Avenue is based in the renowned Fifth Avenue corridor, known for its world-class amenities, restaurants and shopping. 650 Fifth Avenue Company, who owns the building free and clear, recently funded an $11 million capital improvement program, working with the world-class architectural firm Swanke Hayden Connell.

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