Leases  ·  Office

Divorce Law Firm Cohen Clair Renews at Lipstick Building


Law firm Cohen Clair Lans Greifer Thorpe & Rottenstreich has agreed to renew its 13,500-square-foot space at the Lipstick Building in Midtown East, Commercial Observer has learned.

Cohen Clair, which specializes in family and divorce law, signed a six-year lease for the entire 32nd floor of the 34-story, 646,000-square-foot office tower at 885 Third Avenue between East 53rd and East 54th Streets, which was built in 1986 is famed for the cylindrical, Philip Johnson– and John Burgee-helmed design that gives the building its name.

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The law firm has called the Lipstick Building home for more than a decade and its space features unobstructed, 360-degree views, according to a press release announcing the deal.

“The Lipstick Building has long been a center for big law and top financial services organizations, including this celebrated firm,” said Gerard Nocera, a principal at Herald Square Properties—which operates the building alongside Buenos Aires-based real estate firm IRSA—in a statement.

Asking rent in the deal was not disclosed. A CBRE team of Mary Ann Tighe, Craig Reicher and James Ackerson represented Cohen Clair, while Scott Klau and Erik Harris of Newmark Knight Frank represented the landlord. A CBRE spokesman confirmed the transaction, while a spokesman for NKF did not immediately return a request for comment.

The Lipstick Building is now 98 percent occupied, Nocera said in the press release. The property is anchored by legal tenant Latham & Watkins, which occupies nearly 350,000 square feet, according to CoStar Group data.

Other major tenants include law firms LeClairRyan and Reitler Kailas & Rosenblatt, as well as private equity firm StepStone Group, which in 2015 took space formerly occupied by Bernard L. Madoff Investment Securities—the wealth management firm through which convicted fraudster Bernard Madoff ran his multibillion-dollar Ponzi scheme until his arrest in 2008.