Law Firm Chapman and Cutler Expands Rockefeller Center Offices
By Rey Mashayekhi April 26, 2018 4:07 pm
reprints
Law firm Chapman and Cutler has increased its office footprint to north of 30,000 square feet at 1270 Avenue of the Americas after signing its second expansion at the Rockefeller Center property in the last seven months, Commercial Observer has learned.
The Chicago-based law firm has grown to 30,571 square feet spanning part of the 29th floor and the entire 30th floor at the 31-story, 529,000-square-foot building at the southeast corner of West 51st Street, according to sources with knowledge of the transaction. After inking a deal in September 2017 to expand its offices to 6,100 square feet on the 29th floor, Chapman and Cutler has agreed to take an additional 6,108 square feet on that floor and renew its existing 18,363 square feet on the 30th floor.
The law firm’s lease on all 30,500-plus square feet of space at 1270 Avenue of the Americas will now expire in 2029, sources said. Asking rents at the Tishman Speyer-owned building range from the mid-$60s to mid-$70s per square foot.
David Kleinhandler and Ken Rapp of CBRE (CBRE) represented Chapman and Cutler in the deal, while Tishman Speyer’s Samantha Augarten represented the landlord in-house.
In a statement, Kleinhandler said the financial services-focused law firm “has experienced tremendous growth since it entered the New York market in 2009, especially over the past year,” adding that Chapman and Cutler “understood the benefits of its current location in Midtown, which is close to clients and several mass transit options.”
Representatives for Tishman Speyer could not immediately be reached for comment.
Other tenants at 1270 Avenue of the Americas include law firm Venable, which occupies nearly 62,000 square feet at the office tower, according to CoStar Group, and flexible office space provider NYC Office Suites, which leased roughly 40,000 square feet at the property earlier this year.
