Law Firm Renews at 123 William Street [Updated]
Lauren Elkies Schram Oct. 2, 2014, 1:12 p.m.
Medical defense law firm McAloon & Friedman has signed a five-year renewal for its 24,000-square-foot space at East End Capital Partners‘ 123 William Street, Commercial Observer has learned.
The space, which the firm has occupied since 2003, spans the entire 24th and 25th floors in the 27-story 570,000-square foot building. Asking rents in the building range from $40 to $50 per square foot, according to a press release from Colliers International.
McAloon & Friedman’s clients include Bellevue Hospital Center, Beth Israel Medical Center, Lenox Hill Hospital, Montefiore Medical Center, NewYork-Presbyterian Hospital, New York City Health and Hospitals Corporation, NYU Langone Medical Center, North Shore-LIJ Health System, Mount Sinai Medical Center and Continuum Health Partners.
“McAloon & Friedman renewed its lease at 123 William Street because its space is attractive and highly efficient and the building offers convenient access to the various courts that relate to its litigation practice,” Marvin Rosenberg of Colliers said in a prepared statement. He along with colleague Ted Rotante arranged the lease on behalf of the law firm. Mr. Rosenberg also represented McAloon & Friedman when it signed its initial lease in the building in 2003.
Brad Gerla and Jonathan Cope of CBRE represented East End in the renewal.
The early-1960s lobby was gut renovated and completed a month ago, Mr. Gerla told Commercial Observer. “It’s breathtaking,” he noted. Ongoing renovations include new elevators and mechanical upgrades.
McAloon & Friedman’s lease brings the building to 95 percent occupancy, Mr. Gerla said.
In July, Commercial Observer reported that Securities Training Corporation signed a long-term, 32,356-square-foot lease at 123 William Street, and architecture firm Cooper, Robertson & Partners signed a lease for the entire 12,658-square-foot 27th floor.
Update: This story was edited to include remarks from the landlord’s representative in the deal.