The Bank of Baroda has signed a 20-year, 10,500-square-foot lease renewal for its U.S. headquarters at 1 Park Ave. in Manhattan, a CB Richard Ellis Inc. source told CPN exclusively today. The firm assisted the bank in the deal.\u00a0 Murray Hill Properties, the landlord, set the asking rent at $60 per square foot.\u00a0 Bank of Baroda, India\u2019s third largest, is also renovating the space.\u201cWe were able to renew Bank of Baroda\u2019s lease a year early and achieve an excellent deal for them,\u201d said Roshan Shah, senior associate, CB Richard Ellis, who represented the tenant, along with Sinclair Li, vice president. \u201cThis renewal allows them to expand their presence in New York.\u201d\u00a0 CB Richard Ellis is also overseeing the construction and renovation process.Murray Hill Properties was represented internally by Audrey Novoa. In a joint venture deal last year, Murray Hill Properties acquired I Park Ave. from SL Green Realty Corp. for $550 million. Built in 1925, the 957,000-square-foot building is located between East 32nd and East 33rd Streets.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bank of Baroda has signed a 20-year, 10,500-square-foot lease renewal for its U.S. headquarters at 1 Park Ave. in Manhattan, a CB Richard Ellis Inc. source told CPN exclusively today. The firm assisted the bank in the deal.\u00a0 Murray Hill Properties, the landlord, set the asking rent at $60 per square foot.\u00a0 Bank of…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1003798047","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\n