Leases  ·  Office

DLA Piper Renews, Shifts Within 1251 Avenue of the Americas  


Law firm DLA Piper has signed a deal to stay in roughly 200,000 square feet at Mitsui Fudosan’s 1251 Avenue of the Americas. The transaction includes a partial move so the company can occupy contiguous floors, Crain’s New York Business reported.

The company currently occupies 196,000 square feet across six floors (26-28, 36, 38 and 41) in the 53-story office building between West 49th and West 50th Streets. Through the new transaction, DLA Piper will be located in 200,000 feet on five full consecutive floors, the 24th through the 28th.

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The terms of the transaction were not immediately clear. In a recent lease in the building, Japanese firm Itochu signed a 46,000-square-foot lease to relocate to the entire 51st floor, according to Crain’s. The asking rent was $106 per square foot, according to CoStar Group.

Newmark Grubb Knight Frank’s David Falk and Peter Shimkin worked alongside Mitsui Fudosan’s Christopher Perez on the landlord’s side of the deal. Messrs. Falk and Shimkin did not return Commercial Observer’s requests for comment via a spokesperson. It was not immediately clear who brokered the transaction on behalf of DLA Piper, and the law firm did not immediately respond to an email requesting comment.  

Other tenants in the 2.4-million-square-foot tower include financial analysis company McGraw Hill Financial, law firm Bernstein Litowitz Berger & Grossmann and asset manager Sumitomo Mitsui Trust Group.