Law Firm Renews, Expands at 950 Third Avenue
Kauff McGuire & Margolis LLP has signed a 10-year renewal and expansion at 950 Third Avenue, The Commercial Observer has learned. The tenant will now occupy approximately 24,000 square feet on the 14th and 15th floors of the East Midtown building.
The firm, which operates an additional office in Los Angeles, specializes in labor law. KM&M’s clients have included Brookfield Properties, AMC Networks, Conde Nast, NBC Universal and others.
The 32-story office building at 950 Third Avenue was built in 1971 and boasts over 350,000 rentable square feet. The building’s owners, Naomi and Andre Altholz acquired the property for $74.4 million in 2010.
As reported by The Commercial Observer, hedge fund Balyasny Asset Management signed a 7,700-square-foot lease at 950 Third Avenue last year. Asking rent for the 7-year deal was in the high-$50s per square foot.
Mikael Nahmias of Cushman & Wakefield and Jared Horowitz of Newmark Grubb Knight Frank handle leasing responsibilities on behalf of the landlord. Neither broker returned called seeking comment.
Kauff McGuire & Margolis was represented by John Johnson and Ryan McKinney of Studley. Citing a confidentiality agreement, Mr. Johnson declined to comment.