Robins Kaplan Signs Sublease at Boston Properties’ 399 Park Avenue
Terence Cullen Feb. 24, 2017, 4:43 p.m.
A Minnesota-based law firm has signed a deal to relocate its offices to 399 Park Avenue, according to The Real Deal.
Robins Kaplan took a 38,000-square-foot sublease with Arnold & Porter Kaye Scholer at the Boston Properties-owned building between East 53rd and East 54th Streets, TRD reported. The deal runs through 2022.
Asking rent in the deal was not immediately available, but TRD noted in past direct deals it has been more than $100 per square foot.
Robins Kaplan, which made its first foray into New York City in 2010, is currently based a block away at 601 Lexington Avenue. The firm subleases about 30,000 square feet at the 1.7-million-square-foot building, according to TRD. That deal is slated to expire in April.
The firm is also expanding and has grown its bankruptcy and antitrust practices, according to TRD. Meanwhile, the sublandlord is consolidating its space at the building following a merger in 2016.
Ken Rapp, Sam Seiler and Chris Corrinet of CBRE represented Robins Kaplan, while colleagues Craig Reicher, Tim Dempsey and Greg Maurer-Hollaender represented Arnold & Porter Kay Scholer. A CBRE spokeswoman declined to comment.
Citigroup anchors the 1.7-million-square-foot 399 Park Avenue with 443,779 square feet, according to CoStar Group. Tenant-focused real estate brokerage Savills Studley also calls the property home, leasing 61,243 square feet.