Personal Injury Law Firm, Creative Agency Renew at 48 Wall Street
By Rebecca Baird-Remba November 16, 2021 2:46 pm
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A creative agency and a law firm are staying put at 48 Wall Street after 20 years in the building, according to landlord broker Helmsley Spear.
Addison, the branding agency, restructured and renewed a lease for 28,998 square feet on the entire eighth and ninth floors. The new deal extends the company’s lease term through 2031, with options to renew afterward.
In the second transaction, Ressler & Ressler, a plaintiff litigation firm, shrank its office footprint because of the pandemic. The firm relocated from the 26th floor to the 31st floor for a new 3,950-square-foot, 10-year lease.
Asking rent for both spaces was in the low $50s per square foot.
Helmsley Spear’s Andrew Simon, James Emden, Randy Sherman and Kent Swig represented the landlord, 48 Wall LLC, for both lease negotiations. There were no tenant brokers.
“At the beginning of 2021, Helmsley Spear took over the leasing and property management of 48 Wall Street, and has been actively working with both prospective tenants and long-term renewing occupants of the building,” Swig said in a statement.
Other recent renewals and extensions in the 324,000-square-foot office building include flex-office provider Quest Workspaces, financial adviser American Stock Transfer & Trust Co and EB-5 law firm Can Am Enterprises.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
