Banco De La Nación Argentina Renews Lease At 230 Park Avenue Midtown Manhattan For 23407 SF

The property asset involved in this transaction is an office space located at 230 Park Avenue in Midtown Manhattan. The total square footage of the lease is 23,407. This lease was renewed, enabling Banco de la Nación Argentina to continue its operations in this location.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 230 Park Avenue
• Market: Midtown Manhattan
• Landlord: Scott Rechler - RXR Realty
• Tenant: Banco de la Nación Argentina
• Landlord's Representative: Andrew Ackerman & Walter Rooney - RXR Realty
• Tenant's Representative: Daniel Horowitz, Jeffrey Peck & Jacob Stern - Savills

Banco de la Nación Argentina renewed its lease for a duration of three years at the RXR-owned property, which effectively secures the entire third floor of the building. The transaction reflects the tenant’s commitment to maintaining a presence in Midtown Manhattan, especially in light of the significant market fluctuations observed, particularly a 40% decline in the Helmsley Building's value since 2021.