By PR Newswire, October 09, 2013, 09:52:00 AM EDT
Hedge Fund Leases Partial Floor at Class A Plaza District Trophy Tower
NEW YORK, Oct. 9, 2013 /PRNewswire/ -- Teng Yue Partners, a New York based hedge fund that specializes in equity investments in China, has signed a lease at 650 Fifth Avenue, the class A office building located on 52nd Street near Rockefeller Center. The hedge fund signed a 5-year lease for 4,496 square-feet of office space on the 33rd floor of the building.
The announcement was made by 650 Fifth Avenue Company, the building's ownership.
CBRE Group, Inc. Vice Chairman Robert Stillman, Senior Vice Presidents Paul Haskin and Zachary Freeman, along with Financial Analyst Lee Cross, represented 650 Fifth Avenue in the transaction. CBRE serves as the exclusive office leasing agent and property manager of the building. The tenant was represented by Arkady Smolyansky, of CBRE.
650 Fifth Avenue is located in the heart of Midtown Manhattan's Plaza District. The area is most often noted for its great shopping, restaurants and world class amenities. 650 Fifth Avenue Company completed an $11 million capital improvement program with the world-class architectural firm Swanke Hayden Connell, delivering a new lobby, entrance, elevators and other common facilities and maintaining its classic design.
About 650 Fifth Avenue:
Originally known as the Piaget Building, 650 Fifth Avenue was built in 1979 and was designed by John Carl Warneck and Associates. The 36- story building offers 382,500 +/- square foot class A office space and is located on the Northern edge of Rockefeller Center on 52nd Street in New York City. The building is owned by the 650 Fifth Avenue Company.
About CBRE Group, Inc.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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SOURCE 650 Fifth Avenue Company