H.J. Kalikow & Co., LLC announced today that the Federal Home Loan Bank of New York (FHLBNY) has renewed and extended its lease at its flagship property, 101 Park Avenue. A tenant since 2002, FHLBNY is relocating from its current fifth floor space to the seventh floor, and, in addition, expanding its footprint by 20,344 square feet on the sixth floor. In total, the bank will occupy 68,000 square feet of space.
The FHLBY is part of a congressionally charted, nation-wide Federal Home Loan Bank system, which was created in 1932 to provide a flexible credit liquidity source for member community lenders in home mortgage and neighborhood lending. The mission of the Federal Home Loan Bank of New York is to advance housing opportunity and local community development by supporting members in serving their markets.
Peter S. Kalikow, President of H.J. Kalikow & Co., and builder/owner of 101 Park Avenue remarked, “We are very pleased that the FHLBNY has chosen to make its home here at 101 Park Avenue for another 15 years. The bank has been a tremendous tenant, and we are thrilled that it has honored us with its continued tenancy.” Kalikow also remarked that the strength of the property is demonstrated by the fact that over 60 percent of the original tenancy of the building remains at 101 Park Avenue.
José R. González, President and CEO of the FHLBNY, stated, “101 Park Avenue has provided a tremendous home for us over the past fifteen years, and we look forward to our continued relationship in the future. One could not ask for a better building or landlord; they are both superb.”
A Cushman & Wakefield team including John Cefaly, Executive Vice Chairman; Augustus Field IV, Vice Chairman; Brooks Hauf, Associate Director and Nicholas Dysenchuk, Senior Associate, represented H.J. Kalikow & Co., LLC.
A CBRE team of Michael Geoghegan, Vice Chairman; Christopher Mansfield, Senior Vice President; Harly Stevens, Senior Vice President and Brett Shannon, Senior Associate, represented FHLBNY.