A Dozen Corner Offices on Each Floor? Holland & Knight’s 82K at 31 West 52nd
Tom Acitelli Sept. 22, 2009, 7:50 a.m.
When Holland & Knight’s lease was nearing its expiration, the law firm embarked on a real estate pursuit in the familiar territory of its downtown neighborhood. But scouting the post-lapsed commercial real estate skyline, the firm discovered that more lucrative pastures lurked in midtown. Ted Rotante of FirstService Williams, who represented Holland & Knight in its search and subsequent deal at 31 West 52nd Street, noted, “With the growth options we obtained as part of the lease agreement, Holland & Knight will be well positioned for years to come.”
Subleasing 82,551 square feet from law firm Clifford Chance, Holland & Knight will take floors 11 to 13, as well as part of the second floor, in one of the year’s largest law firm transactions.
Though the space was built and furnished to suit a major law firm, Holland & Knight couldn’t resist a few personal touches, including building a shiny new reception area and installing a conference center. The 30-story building, originally built for the sole occupancy of stock brokerage legend E. F. Hutton, comes with a few distinguishing marks of its own—including such capitulations to ego as the cramming of a dozen corner offices onto every floor (we’re not clear how this works either).
The Paramount Group bought the building two years ago for $595 million.
Michael Cohen and Andrew Roos repped Holland & Knight along with Mr. Rotante. CB Richard Ellis team Laurence Briody, Stu Eisenkraft, Brad Needleman and Andrew Sussman repped Clifford Chance.