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Article: Bank makes its debut upstairs on Fifth Avenue; Sky lobby proves key attraction for Heritage; no walk-ins expected.(Real Estate)(Heritage Bank Inc. signs lease agreement with Cohen Brothers Realty Corp.)
- Article from:
- Crain's New York Business
- Article date:
- September 29, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Despite the turmoil down on Wall Street, a new bank is opening its doors in midtown.
Heritage Bank, managed by former North Fork and Signature Bank executives, has signed a 10-year lease for 18,500 square feet on the 11th and 12th floors of 623 Fifth Ave., between East 49th and East 50th streets. The asking rents in the 36-story building, owned by Cohen Brothers Realty Corp., are between $90 and $100 a square foot, according to real estate sources familiar with the area.
"We consider ourselves very fortunate to have secured such an impressive space for our headquarters and private banking teams in the heart of midtown,'' says David Bagatelle, Heritage's ...