Cushman & Wakefield brokers Glenn Markman, Danielle Zimbaro and Laurie Maoz represented the EU in lease negotiations. The landlord was represented by Tishman Speyer Properties. Additional terms of the deal were not disclosed, however Markman, who worked on EU's first Manhattan lease ten years ago, says it was a "good deal and a good transaction for both the landlord and the tenant."

"The EU planned very carefully in anticipation of this important move," says Markman, a Cushman & Wakefield executive director. "An early examination of its requirement gave the EU the opportunity to benefit from brand new construction, at great value in its location of choice, while affording additional space for the 10 new member countries and allowing for future growth."

Ten member countries are to be inducted in 2004, bringing the total to 25. The new members include Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia.