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Israeli Bank Leumi Shrinks Size in Move Down Avenue of the Americas



Bank Hapoalim, an Israeli lender, is moving its New York branch south along Avenue of the Americas and reducing its size in the process, The Real Deal reported.

The bank inked a deal for 40, 000 square feet at 1120 Avenue of the Americas, also known as the Hippodrome Building, according to TRD. The lender is almost halving the 74, 000 square feet it leases at 1177 Avenue of the Americas, according to CoStar.

The length of the lease and the asking rent was not immediately available.

Michael Burgio of Cushman & Wakefield represented both Bank Hapoalim and the landlord, Edison Properties, in the deal. A C&W spokesman did not immediately return a request for comment.

Bank Hapoalim currently leases three floors at 1177 Avenue of the Americas, which is between West 45th and West 46th Streets, where it’s been since 1993, according to CoStar. The Israeli lender last signed a renewal in 2011.


Read the full story at the Commercial Observer, by Terence Cullen  




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