Global Holdings inks lease with Amalgamated Bank - making 99 Park Ave. 98% leased
Manhattan, NY Global Holdings, real estate development and investment firm led by chairman and founder Eyal Ofer, has arranged a lease with Amalgamated Bank for a 94,045 s/f, 15-year deal within 99 Park Ave. The 26-story Midtown East office tower is currently in the midst of a $30 million capital improvement program featuring a detailed facade redesign and the integration of new amenities. The bank will occupy a portion of the ground floor and the entire 2nd, 3rd, and 5th floors.
99 Park Ave. is now 98% following over 220,000 s/f in deals since the capital improvement program was announced in December.
Amalgamated Bank, one of the largest and only unionized banks in the United States, will relocate from 275 Seventh Ave.
Designed by the award-winning VOCON, the capital improvement program is set for completion in 2026. New amenities will include a speakeasy, golf simulator, shared conference center and more.
“99 Park Ave. delivers a dynamic energy that leading companies are drawn to as we seek to enhance the workday experience and reimagine the modern workplace,” said Craig Panzirer, Senior Vice President / Director of Leasing, Global Holdings. “As our capital improvement program continues to progress, we’re committed to meeting the demand of tenants and to elevating the standard of working on prestigious Park Avenue in New York City.”
Global Holdings added strategic advisory firm Geller & Co. to the 99 Park Avenue ecosystem, signing over 45,000 s/f. International children’s apparel company Garan, Inc. also doubled its square footage in March. In Q4, institutional real estate investment manager Lubert Adler signed a 7,674 s/f expansion at the building; wealth management firm Steward Partners signed a new lease for 5,499 s/f; and Metropolitan Bank signed a 15-year lease to expand from 55,200 s/f to 81,979 s/f.
Originally designed by Emery Roth & Sons, 99 Park Avenue is a 26-story, 600,000-square-foot Class A office tower acquired by Global Holdings in 1990. The tower is renowned for its iconic and ideal location in Midtown East, just steps away from Grand Central Terminal and Bryant Park. 99 Park Avenue also touts timeless Art Deco interiors, a private entrance opportunity, fully-modernized elevators, an on-site and tenant-exclusive parking garage and comprehensive fitness center.
Daoud Awad and Chris Kraus from JLL represented Amalgamated Bank. Craig Panzirer and Alex Radmin from Global Holdings, and Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter from JLL represented Global Holdings.