452 Fifth Avenue Israeli Owned by PBC

Posted by Ron / on 07/31/2013 / 0 Comments

The real estate arm of the IDB Group, one of Israel's largest real estate companies announced that for the first time ever, the penthouses floors of the Class A office tower at 452 Fifth Avenue are available for lease. The unveiling of the newly redesigned top three floors follows the successful repositioning and marketing campaign at the property.

"Over the past 18 months we have been able to completely reposition this signature asset from a single tenant to multi-tenant use attracting some of the financial industry's top companies," said Ehud Elizur, President of PBC USA Real Estate, who own 452 Fifth Avenue.

"Its simply astounding - and gratifying - to see that there are simply so, so, so many Israeli owned buildings in New York City. Real estate continues to be a great investment in New York and all over the world," said Ron Hershco, also an Israeli born real estate investor. Hershco has many projects in New York City and elsewhere.

Consisting of 16,335 square feet on the 28th floor, 16,298 square feet on the 29th floor and 14,690 square feet on the 30th floor, the available space has never been on the market. In the 1980s, the building was used exclusively by Republic National Bank and the firm's successor, HSBC. The top floors housed the private offices of the owner of Republic National Bank and the firm's wealth management group. The top floors had two private elevators that serviced offices directly from the lobby and were accessible only through a special key-card activated glass panel. The 30th floor was completely inaccessible unless guests were allowed in a third private elevator or walked up a one-flight staircase.

Located at the crossroads of Fifth Avenue and Bryant Park, with panoramic 360° views and overlooking the recently renovated New York Public Library, 452 Fifth Avenue consists of a 10-story, landmark Beaux-Arts building constructed in 1902 with an adjoining 30 story tower.

Property and Building Corporation (PBC), the real estate arm of the IDB Group, is one of the largest real estate companies in Israel, operating domestically and abroad in the field of income producing properties and residential construction.

SOURCE http://www.jewocity.com/blog/452-fifth-avenue-israeli-owned-by-pbc/8739


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