Law Firm Relocates Along Avenue of the Americas
Lauren Elkies Schram Nov. 7, 2014, 3:15 p.m.
Bernstein Litowitz Berger & Grossmann will move to 51,200 square feet at Mitsui Fudosan‘s 1251 Avenue of the Americas between 49th and 50th Streets, Crain’s New York Business reported.
The law firm, which specializes in the prosecution of class and private actions nationwide, will be a hop, skip and a jump from its current offices at 1285 Avenue of the Americas between West 51st and West 52nd Streets when it moves toward the end of next year.
The firm will occupy the entire 44th floor, part of the 41st and a small space below grade at 1251 Avenue of the Americas, Crain’s noted. David Falk, the president of Newmark Grubb Knight Frank‘s New York tri-state region, previously told Commercial Observer asking rents in the 54-story, 2.3-million-square-foot building range from $85 per square foot on the lower levels up to the low-$100s per foot at the top of the skyscraper. The lease is for 17 years, Crain’s noted.
Newmark Grubb Knight Frank‘s David Falk, Peter Shimkin and Nick Berger represented Mitsui Fudosan in the deal. Howard Rosen of Lee & Associates NYC and Robert Koslow of Colliers International represented the law firm.
As reported earlier this week, Sumitomo Mitsui Trust Group, one of the largest asset managers in Japan with offices in Tokyo, London, Hong Kong, Beijing, Singapore and New York, is leasing 45,838 feet in the building, sources told the New York Post. The asset management firm will relocate from 527 Madison Avenue.