Teng Yue Partners, a New York based hedge fund that specialises in equity investments in China, has signed a lease at 650 Fifth Avenue, the class A office building located on 52nd Street near Rockefeller Center.
The hedge fund signed a five-year lease for 4,496 square-feet of office space on the 33rd floor of the building.
The announcement was made by 650 Fifth Avenue Company, the building's ownership.
CBRE Group vice chairman Robert Stillman, senior vice presidents Paul Haskin and Zachary Freeman, along with financial analyst Lee Cross, represented 650 Fifth Avenue in the transaction. CBRE serves as the exclusive office leasing agent and property manager of the building. The tenant was represented by Arkady Smolyansky of CBRE.
650 Fifth Avenue is located in the heart of Midtown Manhattan's Plaza District. The area is most often noted for its great shopping, restaurants and world class amenities. 650 Fifth Avenue Company completed an USD11m capital improvement programme with the architectural firm Swanke Hayden Connell, delivering a new lobby, entrance, elevators and other common facilities and maintaining its classic design.