Lease Beat

Murphy & McGonigle Relocate to 1185 AoA

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. Read More

Sales Beat

Savanna Pays $75.8M for Adjacent Chelsea Loft Buildings

249 West 17th Street -- the former Siegel-Cooper warehouse

New York-based real estate private equity and asset management firm Savanna has closed on its acquisition of two adjacent loft-style office buildings at 245 West 17th Street and 249 West 17th Street in Chelsea for $75.8 million, city records show.

Originally a dry goods warehouse and wagon house for the Siegel-Cooper Company department store, the property at 249 West 17th Street is a 145,000-square-foot, six-story building.  The other property, equal in square footage, is 12 stories high.

The two properties have a combined 40,000 square feet of office space and are located within a couple blocks of Chelsea Market, the Meatpacking District and Google’s 111 Eighth Avenue. Read More