Dechert Renews 241K SF at 3 Bryant Park

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Just before Thanksgiving, the law firm Dechert renewed its 241,000-square-foot lease at Ivanhoe Cambridge and Callahan Capital Properties1095 Avenue of the Americas — aka 3 Bryant Park, making it one of the largest renewals of 2021, Commercial Observer can first report.

The law firm has 22 locations globally and does work with 40 Fortune 100 companies (per its website) and is coming off of a 20-year lease at 3 Bryant Park. Mark Weiss and Jon Herman of Cushman & Wakefield represented Dechert; Bob Alexander’s team at CBRE represented the landlord.

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“It’s a pretty terrific building,” Weiss told CO. “And it’s a very good landlord. They’ve been there for a while and the landlord has been really responsive to the client’s needs. It was the combination; it was everything lining up the way it’s supposed to that led to this conclusion.”

The 1.3 million-square-foot tower sits across the street from Bryant Park and was built in 1972. It was owned by the Blackstone Group until that company sold it in 2015 for a whopping $2.2 billion to Ivanhoe Cambridge. The luxury watchmaker Bucherer (formerly Tourneau) has an outpost at the building, as does Whole Foods Market.

Weiss declined to release the rent or the terms of the lease. Alexander could not be reached by press time.

Max Gross can be reached at mgross@commercialobserver.com.