Lease Beat

Holwell Shuster & Goldberg Takes 35,681 Feet at 125 Broad Street

Law firm Holwell Shuster & Goldberg LLP has signed a 35,681-square-foot, three-year lease at 125 Broad Street – in a space that fits the firm like a glove.

The firm took the entire 39th floor of the building, which features sweeping views of the Statue of Liberty and New York Harbor and was subleased from international law firm Sedgwick LLP, which moved out and recently moved into its new space at the World Financial Center, sources tell The Commercial Observer.

“Holwell Shuster & Goldberg is a relatively new law firm that is growing very quickly and expects to continue growing very quickly,” said L. Craig Lemle, a senior managing director at Studley who represented the law firm along with Nick Zarnin.

125 Broad Street

125 Broad Street

Holwell Shuster & Goldberg surveyed almost 15 spaces across the city before finding the space, which offered everything the firm was looking for, all wrapped into a short-term lease.

“They didn’t want to be hamstrung by a long-term lease,” Mr. Lemle said.

The space features high-end finishes, 35 perimeter offices, and as a “bonus” came almost fully furnished, from sleek carpeting to IT wiring – and it had been outfitted by Sedgwick specifically for the needs of a growing law firm, he added.

“It was also provided in tip-top shape, which means they (Holwell Shuster & Goldberg) don’t have to spend a nickel on it,” he said.  “Many times sublet space is delivered junky or beat up.  This space looks like it was just built.”

Greg Taubin of Studley represented the sublandlord, Sedgwick, with the building owner and manager, Mack-Cali.  He did not immediately return calls seeking comment.

The 524,476-square-foot, 40-story office building offers state-of-the-art office space in the heart of Downtown, with New York Harbor views on all floors.

The building is one of many success stories to emerge post-Hurricane Sandy, having closed for two weeks in the aftermath of the monster storm.

“The building held up very well,” Mr. Lemle said.  “It’s just a spectacular building with spectacular views.”

 

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