New York, Oct. 17, 2019 (GLOBE NEWSWIRE) -- IDB Bank®, a New York-based private and commercial bank, today announced plans to relocate its Midtown headquarters from its current office on 511 Fifth Avenue to the W.R. Grace Building at 1114 Avenue of the Americas — a 49-story, 1.6-million-square-foot skyscraper that is LEED gold-certified as a green structure.
To facilitate the relocation, the company has leased 124,300 square feet for its new office spanning the second, eighth and ninth floors, as well as part of the 10th. The office boasts sweeping views of Bryant Park and high ceilings that create an inviting space. The move is expected to take place in early 2021.
“For many years, the entire building at 511 Fifth Avenue was our home. As we continue executing our strategic transformation, this move will allow us to design a new, modern workspace, with better amenities and technology,” said Uri Levin, president and CEO of IDB. “Our goal is to build a tech-forward, open working environment that fosters teamwork and collaboration.”
The Bank’s vision of a modern, open workplace also includes improved employee amenities and more options for meeting spaces.
The deal was facilitated by the Grace Building’s brokerage, a CBRE team led by Peter Turchin, Duncan McCuaig on behalf of the Brookfield ownership, and Lance Korman, Brian Waterman and David Berke of Newmark Knight Frank for IDB.
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About IDB Bank
IDB Bank is a New York State-chartered commercial bank, a member of the FDIC, and a wholly owned subsidiary of Israel Discount Bank, Ltd., one of Israel’s leading banks. In addition to its Manhattan headquarters and branches in Brooklyn, N.Y., Staten Island, N.Y. and Short Hills, N.J., the Bank maintains other full-service branches in South Florida and Southern California. The Bank provides a complete range of private banking and commercial banking services to U.S. and international clients.
For 70 years IDB has built its business by fostering deep relationships with its clients, rapid decision-making, and the ability to develop custom-tailored solutions for both its domestic and international clientele.
To learn more about IDB visit www.idbny.com
IDB Bank is a registered service mark of Israel Discount Bank of New York. MEMBER FDIC