Dentons Renews its 210K SF at 1221 Avenue of the Americas
Terence Cullen Aug. 9, 2016, 11:41 a.m.
The firm signed an extension for its existing four-floor lease, or 210,000 square feet, through April 2025. Dentons has been based at the building since 1992, the release noted, and occupies the 23rd through 26th floors.
Edward Guiltinan, Rockefeller Group’s head of leasing for New York City, said in prepared remarks that the law firm had explored several other locations for a potential move. Ultimately, however, it decided to stay at the 2.5-million-square-foot tower between West 48th and West 49th Streets.
“We are very pleased to continue our long-term relationship with Dentons,” Guiltinan said in a statement.
Asking rent in the renewal was in the high-$70s per square foot, according to The New York Post, which first reported news of the deal. Dentons last renewed at the building in February 2003 in a 14-year deal that kept the law firm at the building until January 2018, CoStar Group indicates.
Guiltinan represented the landlord in-house along with a Cushman & Wakefield team led by John Cefaly, while Lewis Miller, Andrew Sussman, Stuart Eisenkraft and Brendan Herlihy of CBRE represented Dentons with Kevin Groarke in-house.
“We are very happy to be extending our lease at 1221 Avenue of the Americas and look forward to many meaningful and prosperous years here as we continue to grow our presence in New York,” Robert McCarthy, the managing partner for Dentons’ New York City office, said in a statement.