UBS leads 623 Fifth rush with 28,000 s/f lease.

In a strong validation of his strategy to reconfigure and reposition the world class office building at 623 Fifth Avenue (formerly known as Swiss Bank Tower) to meet moderate-sized space requirements of elite financial firms and service providers, owner/developer Charles S. Cohen has announced that over 115,000 square feet of new leases have recently been signed at his signature tower.

The building occupies one of midtown's premium locations--midblock between Fifth and Madison Avenues with entrances on both 49th and 50th Streets.

The flurry of leasing activity raises occupancy at the 36-story, 370,000 square foot building, located above the Saks Fifth Avenue flagship department store, to over 70%. Only about 90,000 square feet, including a contiguous block of approximately 50,000 square feet comprising the building's top four floors, is now available for lease.

"We are delighted with the tremendous reception and response we're getting from triple-A space users," asserted Mr. Cohen, who noted that the most recent leases involve seven financial firms, a huge food conglomerate and a law firm.

In the largest leasing transaction, global investment banking giant UBS Securities, represented by Donald Direnzo Sr. and Donald Direnzo Jr. of Cushman & Wakefield, Inc., leased the entire 25th and 26th floors comprising 28,368 square feet of space.

In full floor lease signings, hedge fund Dune Capital Management LP, represented by James Coleman of Hanley Advisors, leased the entire 30th floor; Prentice Capital Management, represented by Richard M. Rosenhaus of Rosenhaus Real Estate, LLC, took the entire 32nd floor; WAMU Capital Corp., a bond trading division of Washington Mutual represented by Jim Quinn and Duncan McCuaig of Cushman & Wakefield, leased the entire 14,486 square foot 18th floor in an expansion move; and Satellite Asset Management expanded by taking the entire 14,476 square foot 19th floor.

In other transactions, Chicago-based law firm Schiff Harden, LLP, represented by CB Richard Ellis' Scott Gottlieb and Scott Wilpon, leased 9,955 square feet on the 29th floor; Royal Capital Partners, LLC, represented by Cory Abdo of Winoker Realty, took 9,706 square feet on the 24thfloor; German-based DEPFA Bank added 8,400 square feet on the 23rd floor; food giant Cargill, LLP, represented by Wade Buckley of Schlesinger & Co., leased 8,400 square feet on the 27th floor; and CL

Financial, Ltd., represented by Dennis Someck of George Comfort & Sons, Inc., leased 4,961 square feet on the 16th floor.

Other financial firms headquartered at 623 Fifth Avenue include Washington Mutual Capital Corp., Nuveen Investments and Credit Suisse First Boston.

Situated directly across from Rockefeller Center and St. Patrick's Cathedral, 623 Fifth Avenue features exceptional security, including card key systems at lobbies and tenant spaces as well as a superior technological infrastructure. Space, ranging in size from about 9,000 to full floors of approximately 15,000 square feet, are now available for immediate occupancy.