Hoguet Newman Inks 13K-SF Deal to Relocate Within Midtown East
The firm will occupy the entire 48th floor of the 55-story building, which is located at 60 East 42nd Street between Park and Madison Avenues, across from Grand Central Terminal. The deal is for 10 years and the asking rent was $72 per square foot, as The New York Post first reported.
Hoguet, which has practices dedicated to commercial litigation, white collar defense, employment issues and the construction industry, is relocating from its current digs on the 35th floor of 10 East 40th Street between Madison and Fifth Avenues.
“Hoguet was drawn to [the building’s] location, convenient in-building access to Grand Central Terminal and five subway lines, as well as the expansive views from their 48th floor offices,” Thomas Durels, an executive vice president at ESRT, said in a prepared statement. “Tenants enjoy in-building amenities including a new tenant-only conference center and dining options.”
Newmark Knight Frank’s Stephen Gordon brokered the deal for Hoguet, while NKF’s William Cohen, Brittany Silver and Jamie Jacobs represented the landlord along with ESRT’s Julie Christiano and Lindsay Godard.
Hoguet is expected to move into its new offices in mid-2018, according to a Newmark spokesman.
“After completing a thorough investigation of market alternatives, [Hoguet] selected a modern, turn-key installation at One Grand Central Place,” Gordon said in a statement. “The property’s premier location and high-end space offerings reflect the firm’s strong pedigree and experience, and will allow for [Hoguet’s] continued growth.”
Existing tenants at the 1.3-million-square-foot building include 3i Debt Management, investment firm Pine Brook Partners and private grant foundation Robertson Foundation.