Sign of the Times! Bankruptcy Boutique Doubles Space

It’s been the worst of times, but mostly it’s been the best of times for Klestadt & Winters. The boutique bankruptcy firm will increase its space by 50 percent, to take 8,870 square feet just off Times Square.

The law firm will move from the 17th floor at 292 Madison Avenue to the 17th floor in its new 21-story home. A full-floor space was an important consideration, according to Crain’s, which first had news of the deal.

The asking rent for the 10-year deal was $38 a square foot.

When things get stressful for the attorneys, who specialize in corporate restructuring and distressed business transactions, they can always drop in on their new neighbors, Urban Zen.

Jarod Stern of Studley represented the tenant, while Roger Silverstein represented the landlord, Silverstein Properties, in-house.