June 10, 2019 – Peter Braus, Managing Principal, Kenneth Salzman, SIOR, Executive Managing Director/Principal, and Seth Rosen, Director, of Lee & Associates NYC have arranged a 10-year, 5,660-square-foot lease spread across the ground and second floors at 34 East 51st Street for the Manhattan branch and office of BNB Bank. Since 1910, BNB Bank has offered the finest in community banking to businesses and consumers from Manhattan to Montauk, Long Island. The bank has more than thirty retail locations in Nassau and Suffolk counties on Long Island as well as two outposts in Queens and one in Manhattan.
Previously, BNB Bank’s Manhattan retail branch was located at 12 East 52nd Street. At this new location, the retail branch will be in 900 square feet of space on the ground floor and will accommodate BNB Bank’s Manhattan customers by offering banking services and an ATM. The office for the New York City sales group will be housed in 4,760 square feet which is the entire second floor of the building.
“After an exhaustive search, we determined that 34 East 51st Street was the ideal location for BNB Bank, providing them with maximum convenience and functionality,” explains Mr. Braus, whose leasing team represented the tenant. “Considering that the office will now be positioned directly above the branch, BNB Bank will enjoy much greater efficiency than they have previously when these functions were in different parts of Manhattan.”
34 East 51st Street is designed to inspire. The building, flooded with natural light through floor-to-ceiling glass on every floor, has distinguished itself to boutique high-end tenants through its extensive amenities package including exclusive fitness center, golf simulator, tenant lounge, conference space, concierge and coffee bar. The property owner, Sedesco, was represented by Davie Berke, Howard Hersch, and Sam Seiler of Jones Lang LaSalle.
“We’re thrilled to welcome BNB as part of our prestigious tenant roster,” says Derek Gilchrist, General Counsel for Sedesco. “We’ve positioned the asset as the Plaza District’s premier building for boutique, high-end alternative investment firms and BNB is an excellent addition.”
BNB Bank is expected to take occupancy in the retail space immediately and in the office space during the fourth quarter of 2019. The asking rents were $225 for the ground floor and $95 for the second floor.