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Germany’s Central Bank Renews Longtime 499 Park Ave. Space

Cushman & Wakefield recently arranged an 11-year, 5,684-square-foot lease renewal for Deutsche Bundesbank at 499 Park Ave. The firm’s Troy Elias and Aron Schreier represented the tenant, which is considered the most influential member of the European System of Central Banks.

“Deutsche Bundesbank has been an important tenant of 499 Park Ave. since 1986 and is looking forward to calling it home for another decade,” said Elias. 

A CBRE agency team led by vice chairman Paul Amrich represents 499 Park’s ownership in leasing transactions. Hines, which sold the tower in 2013 to a fund managed by American Realty Advisors, continues to manage it. 

The major tenants at 499 Park include Cantor Fitzgerald, Halstead Property and Lippincott Management.

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Cushman & Wakefield’s Elias

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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