Law Firm Cozen O’Connor Takes 77K SF at 3 WTC
By Nicholas Rizzi December 6, 2019 2:14 pm
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Philadelphia-based law firm Cozen O’Connor will consolidate its two New York City offices to 77,000 square feet at 3 World Trade Center, landlord Silverstein Properties announced.
Cozen O’Connor signed a 15-year lease for the entire 55th floor and a part of the 56th floor of the 80-story high-rise that opened last year, according to the landlord. A Silverstein spokeswoman did not immediately provide asking rents in the deal, but Commercial Observer previously reported they hover in the high $80s and low $90s per square foot at 3 WTC.
The law firm — which has outposts in 27 cities in two continents — currently has space at 45 Broadway in the Financial District and 277 Park Avenue in Midtown, but plans to leave both for 3 WTC towards the end of 2020, according to the landlord.
“Cozen O’Connor is among a rapidly growing group of the largest law firms in the world that are moving downtown from Midtown,” Jeremy Moss, Silverstein’s executive vice president of leasing, said in a statement. “The reasons are simple: 3 WTC gives firms well-priced access to new construction, direct in-building access to the city’s best transit, and proximity to their clients.”
Moss handled the deal in-house for the landlord with Camille McGratty and CBRE (CBRE)’s Mary Ann Tighe, Ken Meyerson, Adam Foster, Evan Haskell, Stephen Eynon, David Caperna and Rob Hill. Arthur Mirante, Michael Gottlieb and Jennifer Ogden of Avison Young represented the tenant.
A spokesman for Avison Young declined to comment.
Silverstein had a flurry of leasing activity at the 2.5-million-square-foot 3 WTC this year starting with spirits conglomerate Diageo taking 87,000 square feet and mattress company Casper inking a deal for 70,000 square feet in January. In October, ride-sharing giant Uber signed on for more than 300,000 square feet in the tower to consolidate several of its offices around the city, as CO previously reported.
