Merrill Lynch signs on for 20,000 s/f party space.

Owner/developer Charles S. Cohen announced that he has leased the top two floors at 623 Fifth Ave. (formerly known as Swiss Bank Tower) to Merrill Lynch.

The coveted space, which originally served as private banking and dining facility for Swiss Bank, and later UBS, contains over 20,000 s/f of offices and two terraces totaling approximately 8,000 s/f. The terraces overlook Channel Gardens and the Rockefeller Center ice skating rink and Christmas Tree.

According to Cohen, who negotiated the long-term lease directly with Merrill Lynch, the firm plans to use the space for client conferences and special events. David Nevins, senior vice president of Cohen Brothers Realty Corporation, assisted Cohen in the negotiation of the long-term lease, which has options for additional space.

"This is one of the most spectacular corporate environments in all of New York," said Cohen, who noted that "welcoming Merrill Lynch to the top of 623 is the crowning achievement in the strategic repositioning of this signature property."

With Merrill Lynch on board, occupancy at the 36-story, 370,000 s/f tower located above the Saks Fifth Avenue department story, is now over 80%, with less than 70,000 s/f still available for lease.

Cohen plan to transform 623 Fifth Ave. from its former single user format into a world class center for elite financial firms and service providers with moderate space requirements. So far, he has filled the building with such prestigious tenants as Washington Mutual Capital Corp., UBS Securities, German-based DEPFA Bank, Cargill's Black River Asset Management, Credit Suisse First Boston and Nuveen Investments.

"We're very gratified and appreciative that the financial and service communities responded so positively to our vision for 623 Fifth Ave.," he said.

Situated directly across from Rockefeller Center and St. Patrick's Cathedral, 623 Fifth Ave. features first class security, as well as superior technological infrastructure.