NBA Continues to Hold Court at 645 Fifth

NEW YORK CITY-NBA Properties, a private subsidiary of the National Basketball Association, has renewed its 153,405-square-foot headquarters lease at 645 Fifth Ave. for 10 more years. It’s one of the largest office deals in Manhattan so far this year.

“The NBA had numerous options to relocate throughout Manhattan and New Jersey, and was heavily courted by the city’s landlords,” says Harry Seherr-Thoss, the lead broker with FirstService Williams, which represented the building’s owner, in a release. “But because 645 Fifth Ave. is a best-in-class trophy building with a pre-eminent landlord and located in the heart of the Plaza District, the NBA was extremely happy to renew in the only home it has had in New York City.” The landlord, Olympic Tower Associates, is affiliated with the Alexander S. Onassis Public Benefit Foundation.

Rich Ehrlich, CEO of Olympic Tower, says in a release that “the NBA has been a long-term tenant of the building and its continued presence here only enhances our reputation as a class A building.” NBA Properties has occupied the building since the 1970s.