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Office Lease Up (April 10) HSBC Inks 548,000-SF Renewal at North American Headquarters

April 14, 2017

HSBC USA NA, a subsidiary of international banking and financial services organization HSBC Bank, has signed a five-year lease renewal totaling 548,000 square feet in its North American headquarters building at 452 Fifth Ave. in New York City. 

The 30-story, 865,000-square-foot, 4-Star office tower was built in 1984 on 1.1 acres in the Penn Plaza / Garment District submarket of Manhattan, between 39th and 40th Streets. 

PBC USA Real Estate LLC and Koor Industries Ltd. purchased the asset in a 2010 sale-leaseback deal with HSBC Bank for $330 million, or $382 per square foot, and has since completed a multi-million dollar capital improvement campaign that wrapped in 2012.  

Source: CoStar Realty Information, Inc.


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