NEW YORK—Malayan Banking Berhad (Maybank) has leased 14,812 sq. ft. of space at 400 Park Ave. The transaction is a renewal and expansion of the company’s space, which it uses as its U.S. headquarters. The company now occupies the property’s entire 11th floor at the property, which is situated at the northwest corner of 54th Street.
Studley’s Daniel Horowitz, executive vice president, and Gary Kerper, associate director, represented Maybank in the long-term transaction, while Drew Isaacson of Waterman Interests LLC represented the landlord, Waterman 400 Park Associates LLC.
Maybank originally subleased a portion of the ninth floor at the building in 1984.
Under Waterman’s ownership, the 22-story tower has received capital investment, including a redesigned lobby and entrance, new elevator cabs, restoration to the property’s façade and updated windows, security, HVA and telecommunications infrastructure.
Maybank Group is a financial services provider in Malaysia catering to the needs of consumers, investors, entrepreneurs, non-profit organizations and corporations.