Law Firm Pillsbury Winthrop Inks 89K-SF Deal at Paramount-Owned Midtown Building
By Rey Mashayekhi May 9, 2018 12:19 pmreprints
Law firm Pillsbury Winthrop Shaw Pittman has inked a lease for 88,503 square feet of office space at Paramount Group’s 31 West 52nd Street in Midtown, the landlord announced yesterday.
Pillsbury signed a 12-year deal to take the top four floors at that the 29-story, 787,000-square-foot office building between Fifth Avenue and Avenue of the Americas, Paramount said. The law firm will be moving its offices several blocks north from its current location at 1540 Broadway, where it presently occupies more than 150,000 square feet, according to CoStar Group data.
Asking rent and the brokers on the deal were not immediately clear.
The Pillsbury deal follows last week’s announcement that McGraw-Hill Education had signed a 136,000-square-foot lease at Paramount’s 1325 Avenue of the Americas. The two deals take the real estate investment trust’s New York office portfolio to 95.7 percent leased, Peter Brindley, Paramount’s executive vice president of leasing, said in a statement—with 31 West 52nd Street now 93.1 percent leased, compared to 81.5 percent at the end of the first quarter.
“Adding a firm of Pillsbury’s prominence speaks to the highly attractive nature of 31 West 52nd Street and, more broadly, the desirability of the Sixth Avenue office corridor in Manhattan,” Brindley said.
Representatives for Pillsbury could not be reached for comment, while representatives for Paramount did not return a request for additional comment.
Other tenants at 31 West 52nd Street include law firms Clifford Chance and Holland & Knight and financial services firm TD Securities.