Law Firm Carter Ledyard Relocates Within FiDi to 28 Liberty

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Corporate law firm Carter, Ledyard & Milburn has leased 36,124 square feet at Fosun International’s 28 Liberty Street in the Financial District, Commercial Observer has learned. 

The 168-year-old firm will relocate from 2 Wall Street to the entire 41st floor of the landmarked and recently renovated office tower, according to JLL. Asking rent in the long-term deal was in the $70s per square foot. The deal brings the 60-story, 2.2 million-square-foot building to more than 95 percent leased.

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JLL’s Kenneth Siegel and John Wheeler represented Carter Ledyard in the transaction. Thomas Costanzo and Isabella Chen of Fosun Hive handled the transaction in-house for landlord, along with JLL’s Peter Riguardi, Mitchell Konsker, Daniel Turkewitz, Michael Berman and Eliza Gordon

“Twenty-eight Liberty is a best-in-class office tower that provides a powerful environment for client interaction and employee collaboration,” Wheeler said in a statement. “The building’s efficient design, extraordinary views and direct access to mass transit position it as an ideal destination for Carter, Ledyard’s new headquarters.”

The renovation has added 200,000 square feet of new below-grade retail space, including an Alamo Drafthouse Cinema and a food hall, as well as Union Square Hospitality Group’s Manhatta restaurant in the 60th-floor penthouse. The last major office lease signed in the building was with insurance company AIG, which took 220,000 square feet in July 2020. Other office tenants include Allianz, Local Initiatives Support Corporation and HelloFresh

Rebecca Baird-Remba can be reached rbairdremba@commercialobserver.com.