The malpractice law firm Douglas & London, P.C. inked a 10-year deal for 14,807 square feet at 59 Maiden Lane, The Commercial Observer has learned.
Brad Gerla and Jeff Sharon of CBRE represented the tenant, which will relocate from 111 John Street this August. Rob Sattler, Hal Stein and Brian Waterman of Newmark Grubb Knight Frank represented the landlord, AM Trust. Asking rent was $36 per square foot.
The tenant wanted to consolidate space and will relocate to the sixth floor of 59 Maiden Lane from multi-story offices on John Street. Maiden Lane and the surrounding area sustained heavy damages during Superstorm Sandy. But recent activity suggests a solid comeback. Last month, The Commercial Observer wrote about the growing collection of fast casual restaurants at 100 Maiden Lane.
“The firm has grown and they’ve picked up space,” Mr. Gerla said. “They’ve really become a major force as a law firm and they needed larger offices.” Mr. Sharon said Douglas & London had had 8,600 square feet across two floors on John Street.
“This building affords them the opportunity to consolidate while while maintaining a presence downtown, where they want to be,” he said.
Brokers from NGKF could not be reached immediately for comment.