Law Firm Relocating to 250 West 55th Street with 30k Square Feet
By Terence Cullen July 1, 2015 12:35 pm
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It looks like yet another law firm is headed for 250 West 55th Street.
Watson Farley & Williams has inked a deal for 30,400 square feet for a floor-and-a half at the 38-story building, according to CBRE (CBRE). The firm is relocated from 1133 Avenue of the Americas and expanding its size in the 15-year lease. Lawyers, paralegals and staffers will occupy part of the 30th floor and the whole 31st floor in the deal.
Move-in is slated for the beginning of 2016. Asking rents in the office tower run from $80 to $140 per square foot, per CBRE brokers.
Peter Turchin, Christie Harle, Sam Seiler and Caroline Merck of CBRE run the leasing team for the Boston Properties (BXP)-owned building. Mark Ravesloot, Bill Iacovelli, Michael Wellen and Cara Chayet, also of CBRE, represented Watson Farley & Williams.
The 988,000-square-foot building between Eighth Avenue and Broadway seems to be a magnet for law firms since it opened in 2013. Morrison & Foerster, another law firm, anchored the building with more than 180,000 square feet, as CO has reported in the past and Kaye Scholer also committed to 260,000 square feet in 2012 at the building, before it opened.
“We are excited to welcome Watson Farley & Williams to 250 West 55th Street, joining two other law firms, Kaye Scholer, and Morrison Foerster, at the building,” Ms. Harle said in an emailed statement to CO. “[The building] was designed with law firms in mind, with column-free, center core floor plates that maximize the number of perimeter offices per floor along with providing a significant amount of light and air on all floors due to the 8-foot high windows.”
The building has seen quite a bit of activity recently, and not just from law firms. Gamut Capital Holdings is taking 7,500 square feet on part of the 25th floor, according to the brokerage. Michael Movshovich and Ben Friedland of CBRE represented the money fund in the five-year lease.
Lion Point Capital is taking 7,400 square feet on a piece of the 33rd floor in a seven-year deal. Jonathan Schindler and Conor Kenny of DTZ represented that tenant.
Both new tenants plan on moving in near the end of this year.
