The real estate law firm signed a 10-year lease renewal for its 19,025-square-foot space on the entire 20th floor of the 20-story building between East 44th and East 45th Streets, one block east of Grand Central Terminal, the landlord said. A source with knowledge of the deal said the asking rent was $70 per square foot.
“We’re delighted to extend our valued relationship with Cassin & Cassin,” Steven Durels, the executive vice president for leasing and real property at SL Green, said in a statement. “711 Third provides tenants with an extraordinary combination of convenience and value, which has led to the building being 97 percent leased.”
SL Green handled the deal in-house with Howard Tenenbaum and Gary Rosen while CBRE’s Paul Amrich, Neil King and Georgina Cook represented Cassin & Cassin.
“Cassin & Cassin has been located in Midtown East for several years, so it was important they retain their neighborhood presence, close to their clients and convenient for employees,” Amrich said in a statement. “We were able to work with SL Green to negotiate a mutually beneficial deal to have Cassin remain at 711 Third Avenue for the foreseeable future.”
The firm has been at 711 Third Avenue for 16 years and also has offices in Purchase, N.Y., Dallas, Texas and Phoenix.
Other tenants in the 600,000-square-foot 711 Third Avenue include Ackman-Ziff Real Estate Group, digital business and printing services firm Ricoh USA and marketing research company Schlesinger Associates.
from Commercial Observer http://bit.ly/2De2chY