HSHN Nordbank moves to Park Ave.

HSH Nordbank AG, one: of Northern Germany's largest and most prestigious banks, will move its New York City headquarters to 57,000.s/f at 230 Park Ave.

Having outgrown its former; home on: the 28th floor at 590 Madison (aka the IBM Building) HSHN took an assignment. of a lease from Babcock & Brown at the 34-story 1.3 million s/f property owned by Monday Properties (formerly Max Capital).

CB Richard Ellis Smart Eisenkraft. Jason German, Brad Needleman and Michael Wellen acted on behalf of HSHN in the 15-year transaction, while Glenn Roberts, of GVA Williams, represented the sublessor, Babcock & Brown. CBRE initially installed HSHN in 590 Madison three years ago and is currently negotiating a sub coted 25,000 s/f at that property.

"After thoroughly scouring midtown for suitable new space, it made absolute economic and operational sense to structure a transaction at 230 Park Ave.," said Mr. Eisenkraft. "Moreover. the space is totally built-out, furnished and in pristine move-in condition. another compelling reason to opt for 230 Park.'"

According to Roland Kiser, general manager of HSH Nordbank. "We're pleased to be able to remain in midtown, where so many of our clients are located. This expansion space accommodates both our immediate and long-term needs at one of midtown's finest class A properties."

Built in 1929, 230 Park Ave. is also home to ING Baring Furman Selz, LLC, Bear Stearns & Co. and HQ Global Workplaces.