NEW YORK CITY-The Development Corp. of Israel is relocating its operations up the block from 575 Lexington Ave. to 25,000-square feet at Rudin Management Co.’s 641 Lexington Ave.

DCI, an international finance company, signed a 15-year lease for the space at the 400,000-square-foot tower building and plans to occupy the space during the first quarter of 2014, according to the Commercial Observer.

“We’re proud that (DCI) has chosen 641 Lexington Ave. as its new home and we are committed to helping this important organization grown and prosper in the heart of Midtown,” states Bill Rudin, co-vice chairman and CEO of Rudin.

Rudin Vice President Robert Steinman represented ownership in-house. Colliers International Vice Chairman James Emden handled the lease negotiations for DCI. See story in the Commercial Observer.