November 1, 2019 – Brad Schwarz, Executive Managing Director/Principal, and Brendan Reichenbacher, Associate, of Lee & Associates NYC have negotiated a ground-floor, 4,300-square-foot lease at 5 Court Square, between Jackson and Thomson Avenues, for Citibank. As a global bank, Citibank aims to responsibly provide financial services that enable growth and economic progress. They service individual consumers, corporations, governments and institutions with a broad range of financial services and products.
“Court Square sits right in the center of the burgeoning Long Island City neighborhood, making it the perfect spot for a new location of the well-known Citibank,” explains Mr. Schwarz, who represented the owner, Z.D. Jasper, Inc., along with his associate, Mr. Reichenbacher. “Citibank needed to relocate, and the best corner in Court Square happened to be coming to market by way of a new residential development. It ended up being a perfect fit for all parties.”
5 Court Square is conveniently located near the 7 and G trains at Court Square as well as the E and M trains at Court Square-23rd Street. There are also numerous bus lines nearby. This new Citibank will be located near a variety of luxury residential developments, such as Watermark LIC, The Forge and Halo Long Island City.
The tenant was represented by Salvatore Ferrigno and Hymie Dweck of Newmark Knight Frank. The lease term is 10 years and the asking rent was $150 per square foot.