Fleet, Commerce Sign 10 Manhattan Leases

NEW YORK CITY-Two of the city’s most aggressively expanding banks are at it again. Commerce Bank has taken space for a new retail location in Tribeca, while FleetBoston Financial Corp. will open three Manhattan retail locations as well as several ATM sites by early 2003.

Cherry Hill, NJ-based Commerce Bank has leased 4,000 sf of ground-floor space at 25 Hudson St. for its 11th Manhattan branch office. Commerce also has a Downtown location at Bond Street and Broadway.

Lansco Corp. executive vice president Robin Abrams and senior director Roger Eulau represented building owner RS Associates LLC in negotiating the 15-year deal. Jeff Roseman of Newmark New Spectrum Retail LLC repped Commerce. Asking rent for the space was roughly $86 per sf.