In a release, Daniel Gohari, VP and director of commercial assets for the the Moinian Group, which owns 530 Fifth, calls Wells Fargo "a tremendous tenant and we value our ongoing association with this prestigious institution." In October, the San Francisco-based bank announced it would acquire Wachovia Corp., based in Charlotte, NC.
Dale F. Schlather of Cushman & Wakefield represented the tenant and Howard Kessler of Newmark Knight Frank represented the Moinian Group in this transaction. Built in 1956, the 26-story 530 Fifth was formerly known as the Bank of New York Building.
The Wells Fargo renewal was one of several new leases and renewals throughout Manhattan that were announced Wednesday by the Moinian Group. Online advertising and lead generation firm Yodel Inc. has signed a new lease for 22,831 square feet at 50 W. 23rd St. Sloane Rhulen of CB Richard Ellis represented the tenant, while Michael Dreizen and Andrew Udis of NKF spoke for the owner.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
