Legal Defense Team Makes 100 Wall its New HQ [Updated]
Lauren Elkies Schram Feb. 13, 2014, 10:54 a.m.
Leading litigation law firm Lester Schwab Katz & Dwyer is moving its headquarters to 100 Wall Street, Commercial Observer has learned.
Last week, the firm signed a lease for the entire 26th and 27th floors at 100 Wall Street, totaling 39,298 square feet. The asking rent was in the mid-$40s per square foot.
The tenant was represented by Marc Shapses, Joe Messina and Oliver Petrovic of Studley in the transaction. Mitchell Konsker, Scott Cahaly and Kyle Young of Jones Lang LaSalle represented Savanna, which owns the building.
“Not only does 100 Wall Street offer a highly prestigious address, but the space itself is remarkable,” Michael E. McDonagh, Esq., managing partner of LSK&D, said in a prepared statement. “In addition tobeing perfectly situated to accommodate our continued growth and long-term goals, we’ll also enjoy bridge and water views from a beautiful, modern office space.”
LSK&D is moving to 100 Wall from the Equitable Building at 120 Broadway. The firm has other offices in Millburn, NJ. Construction at 100 Wall is slated for completion mid-year.
With the LSK&D lease, 100 Wall Street is nearly 90 percent occupied.
“Since acquiring the property in 2011, we have invested in improving the base building infrastructure while also adding resiliency since Superstorm Sandy by moving critical life safety, electric switch gear and telecommunications equipment to the second floor,” said Kevin Hoo, vice president at Savanna. “We have attracted a diverse mix of high-quality tenants and are proud to welcome LSK&D, one of the nation’s premier litigation firms, to their new home.”
Marc Shapses, executive managing director at Studley, added: “While many of the best bargains and highest-quality blocks throughout Lower Manhattan have been leased, law firms like LSK&D wished to maintain their presence in the Financial District but desired new, modern space that would be uniquely designed to accommodate the firm’s organic growth throughout the coming decade.”
Update: This story has been edited to include a comment from a Studley executive.