Lease Beat

Murphy & McGonigle Relocate to 1185 AoA

Courtesy of SL Green

Courtesy of SL Green

Murphy & McGonigle has relocated its offices in Midtown.

The law firm, known for its specialization in high-stakes commercial and finance transactions, will be moving out of its offices at 60 East 42nd Street to take the 21st floor of 1185 Avenue of the Americas. The new 27,231-square-foot office, as Crain’s New York reported, accommodates the firm’s growth as Dodd Frank changed the dynamics of the financial industry.

Danny Levine and David Falk of Newmark Grubb Knight Frank was instrumental in bringing Murphy & McGonigle to the building. The landlord, SL Green, was represented by two in-house brokers,  Gary Rosen and Howard Tenenbaum. 

Neither party could be reached for comment.

Mr. Rosen and Mr. Tenenbaum represent several properties across SL Green’s portfolio and have signed several sizable deals over the last year, including 29,524 square feet for DZ Bank at 609 Fifth Avenue and Amazon‘s 92,493-square-foot office at neighboring 1350 Avenue of the Americas.

1185 Avenue of the Americas, however, has kept a low profile on the leasing radar in 2013, largely because the 1.1-million-square-foot building seldom has openings. Its most recent deal reported in the Commercial Observer was a 27,342-square-foot space for Alterra USA Holdings, an insurance firm, on the sixteenth floor.

Availability continues to remain tight with only a similarly sized space on the third floor available. The asking rent for Murphy & McGonigle, as well as the remaining space, hovers around $65 per square foot.

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