Lease Beat

Big-Time Law Firm Deal at Brookfield’s Grace Building

grace Big Time Law Firm Deal at Brookfields Grace Building

There.

In one of the biggest law firm deals this year in New York, intellectual property specialists Kilpatrick Townsend & Stockton has taken 45,000 square feet at the Grace Building at 1114 Avenue of the Americas.

The deal, which comes six months after Kilpatrick Stockton merged with Townsend and Townsend and Crew, allows the legal practice to now double its size from its current 22,500 square feet at 31 West 52nd Street, brokers said. At the 49-story, Brookfield Office Properties-co-owned Grace Building, the firm will occupy the entire 21st floor and a portion of the 22nd.

They expect to relocate near the end of the year, said Studley’s Ken Ruderman, who represented the tenant in the transaction.

“We were strategic in our approach, canvassing the market 18 months ahead of Kilpatrick’s lease expiration in order to time the relocation with the expiration,” said Mr. Ruderman of the firm, which is now among the 70 largest legal practices operating in the U.S. “Because we were proactive, we were able to successfully create an opportunity with Brookfield that resulted in an ideal transaction in one of midtown’s premier buildings.”

jsederstrom@observer.com

 

Comments

  1. So finally after six months the property is handover to Kilpatrick Townsend & Stockton. As this is going to be one of the biggest law firm, the lawyers and the practitioners of the New York will be much happier now. 

  2. Margaret Thomas says:

    Soon to be being the biggest law firm it is not really quite surprising on how they had negotiate to it properly which just took several months.  @intellectual property lawyers my good friend Nicholas Fortuna would be one of those happy practitioners.