Law firm Sullivan & Worcester will relocate to slightly smaller digs at Mitsui Fudosan America’s 1251 Avenue of the Americas.
The Israel-based law firm signed a deal to move its New York City offices to 41,900 square feet in the tower at the corner of 50th Street and the Avenue of the Americas as it has recently increased its headcount to 52 attorneys and 18 staff members, Sullivan & Worcester announced
The firm did not disclose the asking rent and the length of the lease. Average asking rent in Manhattan in the first quarter of 2024 was $87.44 per square foot, according to a report from Avison Young.
Sullivan & Worcester currently occupies about 51,000 square feet at 1633 Broadway, Law360 reported. Despite the smaller footprint, its new space will have 63 offices, about a dozen more than its current outpost, the company said.
“Given our growth trajectory, we believe the office space and new location make strategic sense for the firm and for our clients,” David Danovitch, managing partner of Sullivan & Worcester’s New York office, said in a statement. “The new office space has enhancements that will enable us to offer a state-of-the-art tech and work experience for our team and our clients.”
Jason Gorman at CBRE (CBRE) negotiated on behalf of the tenant, but it’s unclear who handled the deal for Mitsui Fudosan America. The landlord and CBRE did not immediately respond to requests for comment.
Other tenants in the Avenue of the Americas building include financial advisory firm Solomon Partners, which signed a 15-year lease for 70,662 square feet in December; law firm Lowenstein Sandler, which expanded to 125,000 square feet in September 2021; and asset manager TCW Group, which occupies about 44,100 square feet.
Mark Hallum can be reached at mhallum@commercialobserver.com.
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
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