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Philippine Bank purchases.


The Bank of the Philippine Islands The Bank of the Philippine Islands or BPI (PSE: BPI) is the oldest bank in the Philippines still in operation and is the third-largest bank in the country in terms of assets, third only to Metrobank and second to Banco de Oro-EPCI, Inc.  has purchased the building located at 7 East 53rd Street, which after and alteration the Bank plans to occupy for its New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 Office. Just east of Fifth Avenue this 6,500 square feet, three-story building adjoins, on the east, the attractive Paley Park Paley Park is a pocket park located at 3 East 53rd Street in Midtown Manhattan on the former site of the Stork Club.[1] Designed by the landscape architectural firm of Zion & Breen, it opened May 23, 1967. . Richard W. Seeler, president, of Gronich & Company, a broker in the transaction stated that the sale ended a long search by the Bank to find the right size building in the right location.

The building was formerly occupied by Honeybee honeybee

Broadly, any bee that makes honey (any insect of the tribe Apini, family Apidae); more strictly, one of the four species constituting the genus Apis. The term is usually applied to one species, the domestic honeybee (A.
, a major retailer and mail order company, which recently closed its retail stores with plans to concentrate on its mail order business.

The seller is an Estate of which the Manufacturers Hanover Trust Company is a co-executor. Victor Tuohy, vice president, of the Trust Real Estate Department represented the seller. The purchase price was not disclosed.
COPYRIGHT 1992 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Bank of the Philippine Islands acquires building in New York, New York
Publication:Real Estate Weekly
Date:Jun 3, 1992
Words:146
Previous Article:Marketing firm takes 25,000sf at 100 Walnut Ave. in Clark, NJ. (Arista Marketing Associates leases 25,000 square feet in Clark, New Jersey)
Next Article:Helping owners learn the rules. (address by John H.K. Belt, president of Building Owners and Managers Association of New York)
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