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Bank of Kuwait Renews Lease at 299 Park Ave.

Fisher Brothers inks a deal with the National Bank of Kuwait maintaining its 18,688 square-foot space in the East Midtown office tower.

299 Park Ave. - photo by Brett Beyer 299 Park Ave./(photo credit: Brett Beyer)

NEW YORK CITY—The National Bank of Kuwait has signed a 10-year lease renewal at 299 Park Ave., Fisher Brothers’ 42-story Midtown Manhattan office building. Kuwait’s leading financial institution will continue to occupy 18,688 square feet on the 17th floor. A source with knowledge of the transaction tells GlobeSt.com the asking rent is $95 per square foot.

In total, Fisher Brothers has now leased approximately 200,000 square feet at 299 Park Ave. since May 2017, bringing the building to over 90% leased. The building’s leasing activity includes a 29,771-square-foot lease with Traxys, a 28,316-square-foot lease with Varagon Capital Partners, and most recently a 29,173-square-foot lease with B. Riley, which joins the tower’s financial services tenants, Capital One, UBS, Carlyle and American Securities.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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