The International Federation of Accountants (IFAC), the global organization for the accountancy profession, has signed a 24,962-square-foot lease at 529 Fifth Ave for its new headquarters.
The transaction is an expansion for IFAC, which currently occupies 14,000 square feet at 545 Fifth Ave. Occupancy at its new address is expected in February 2012.
Executive Managing Director Daniel Horowitz, Senior Managing Director Jeffrey Peck and Assistant Director Gary Kerper of Studley represented IFAC in the lease, which covers the entire sixth and partial fifth floor of the building. The ownership entity, a joint venture of Silverstein Properties? and Loeb Partners Realty, was represented in-house by Roger A. Silverstein and Jeremy I. Moss.
The new offices will feature a boardroom and conference facility that can accommodate 75 professionals in a column-free expanse. IFAC will also receive signage on the front entrance of the building as part of the lease agreement.
The company began its search for additional space in the summer of 2010, according to Horowitz.
529 Fifth Avenue is a 20-story, Class A office building located on the southeast corner of Fifth Ave and 44th St, two blocks from Grand Central Station.