Deutsche Bank is behaving mysteriously.
The financial giant is prowling for 450,000 square feet of space, said a source close to the negotiations, for a lease that would be one of the biggest of 2008. The source wouldn’t say much else, except that Deutsche is searching “everywhere,” including in both new and old construction, particularly in midtown.
Another source confirmed that the bank has checked out space at the under-construction 11 Times Square and 345 Park Avenue.
Banks are not exactly known for their transparency, but determining this behemoth’s intentions is no easy task.
“It doesn’t make any sense,” said one prominent tenant broker, who asked not to be named (there’s no glory in ignorance, particularly in a field where everyone knows his or her competitor’s business). “It’s not computing.”
Keep in mind that last spring, after selling its headquarters at 60 Wall Street to the Paramount Group for $1.2 billion, Deutsche signed a lease renewal with the new owners for 15 years.
It doesn’t help that a bank spokesman didn’t respond to a request for comment by press time.
Which just leaves us guessing.
“No one can quite figure out why they’re looking,” said another prominent tenant broker. “It’s sort of a mystery. Nobody really knows what the hell they’re doing, including them. It’s hard to make long-term planning when the financial world is so turbulent.”