The company signed a 132,000-square-foot lease at 295 Fifth Avenue to occupy the eighth through 10th floors of the 17-story building, according to owners Tribeca Investment Group, PGIM Real Estate and Meadow Partners.
It’s unclear when Quinn Emanuel plans to move into its new digs, which is about six blocks away from its current offices. The Los Angeles-based law firm renewed its 159,562 square feet at 51 Madison in 2020, Crain’s New York Business reported.
“The deal affirms a larger trend in Midtown South: As technology firms have dialed back their leasing activity, the gap is being filled by firms from traditional industries that are realizing upgraded buildings in Midtown South bolster their initiatives to attract and retain talent,” said CBRE (CBRE)’s Mary Ann Tighe, who represented the owners with David Hollander, Peter Turchin, Brett Shannon, Liz Lash and Hayden Pascal.
295 Fifth Avenue takes up the full block between 30th and 31st streets. The building, also known as the Textile Building, was constructed in 1920 by George Backer and recently underwent a $350 million redevelopment that included a new lobby, outdoor workspaces, a courtyard, and new elevators, windows and HVAC systems, as well as a 34,000-square-foot penthouse, according to the landlord. Quinn Emanuel is the first tenant the owners signed after the renovation.
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.
Robert Khodadadian, skyline properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, Commercial Observer, Retail For Lease, Commercial Observer, Commercial Office Lease
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