Holwell Shuster & Goldberg Signs Midtown Sub-Sublease
Liam La Guerre Aug. 31, 2015, 6:03 p.m.
Law firm Holwell Shuster & Goldberg is moving back to Midtown.
The law office signed a three-year sub-sublease to relocate to a 29,592-square-foot space on the 26th and 27th floors at 750 Seventh Avenue, as The Wall Street Journal first reported.
The asking rent in the building is $70 per square foot, but the sub-sublease was negotiated below that rate (he declined to be specific), according to L. Craig Lemle of Savills Studley, who represented the tenant along with colleague Nick Zarnin.
Holwell Shuster is relocating to the 35-story, 561,000-square-foot building between West 49th and West 50th Streets from its current offices at 125 Broad Street in Downtown Manhattan.
It is sub-subleasing the space from London-based law firm Mishcon de Reya, which is subleasing the space from Mendes & Mount, another law firm.
Holwell Shuster was looking for sub-sublease “that was fully built and furnished to accommodate the firm’s current and future growth in Midtown,” Mr. Lemle said in prepared remarks. He added that although there was a lack of such spaces available on the market now, “we were able to find a great fit and achieve competitive pricing at a premier Midtown address.”
When Holwell Shuster was founded in 2012, it had a one-year sublease for 3,000 square feet at 335 Madison Avenue between East 43rd and East 44th Streets, as the Journal reported. A year later it moved into a sublease for the entire 35,681-square-foot 39th floor at 125 Broad Street, as Commercial Observer previously reported.
“Our new home at 750 Seventh Avenue will allow for additional growth in our key practice areas,” said Daniel Goldberg, a partner at Holwell Shuster. “The space features two contiguous, efficient floorplates and excellent views, which was very appealing to us.”
Cushman & Wakefield’s Samuel Clark and Joshua Goldman represented Mishcon de Reya in the deal. The brokers were not immediately available to comment. A representative from Mishcon de Reya did not immediately respond to requests for comment.