Law Firm Relocating Within Midtown East to 747 Third Avenue
By Rey Mashayekhi September 5, 2018 3:33 pm
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Law firm Lazare Potter Giacovas & Moyle is moving its Manhattan offices to 747 Third Avenue after inking a full-floor lease at the Midtown East office tower, Commercial Observer has learned.
Lazare Potter signed a 10-year, 9,310-square-foot deal for the entire 16th floor at the 39-story, roughly 403,000-square-foot building between East 46th and East 47th Streets, according to a press release provided by landlord William Kaufman Organization. The business law firm is expected to move from its current offices, located several blocks north at 875 Third Avenue, at the start of next year.
Mark Weiss and Robert Eisenberg of Cushman & Wakefield (CWK) represented the tenant, while Michael Lenchner of Sage Realty Corporation—WKO’s leasing and management division—represented the landlord alongside a JLL (JLL) team of Frank Doyle, Cynthia Wasserberger, David Kleiner, Harlan Webster and Hayley Shoener.
WKO also announced two smaller lease at 747 Third Avenue. Executive search firm JSB Partners, which has occupied the building since 2004, signed a five-year renewal of its 6,970 square feet on the 15th floor. And private equity firm New 2nd Capital Advisors inked a five-year deal for a 3,202-square-foot prebuilt unit on the 21st floor, which it has already moved into from its previous offices at 205 East 42nd Street.
Asking rents in all three deals were in the mid- to high $60s per square foot, according to sources with knowledge of the transaction. JSB worked directly with Sage’s Lenchner in negotiating its renewal, while David Dusek and Kip Orban of JLL represented New 2nd Capital. Lenchner and the JLL leasing team of Doyle, Wasserberger, Kleiner, Webster and Shoener represented the landlord in the New 2nd Capital transaction.
In a statement, Lenchner said the newly signed leases “are a strong vote of support for 747 Third Avenue, which we meticulously repositioned and reimagined for today’s modern tenants.” WKO recently completed a building-wide repositioning of the property that resulted in new features: lobby, concierge desk and visitor access system.
Representatives for JLL and C&W could not immediately be reached for comment.
Other tenants at the office tower include workplace provider Regus and media advertising sales platform ITN Networks.
