Law Firm, Recruiter and Real Estate Investor Renew at 777 Third Avenue
A trio of tenants have decided to stick with 777 Third Avenue, Commercial Observer has learned.
In the largest of the three renewals, commercial and business law firm Dewey Pegno & Kramarsky inked a 10-year deal to relocate within the building to 13,104 square feet across the 29th floor, according to Sage Realty, the leasing and management arm of landlord the William Kaufman Organization.
It’s unclear when Dewey — which represents companies in bankruptcy, insurance, intellectual property and employment disputes — will relocate to its new floor at the 38-story building, according to Sage. Sage did not immediately respond to a request for comment on the size of Dewey’s previous offices or its location.
CBRE’s David Hollander and Liz Lash represented the tenant in the deal. The brokerage did not immediately respond to a request for comment.
Dewey wasn’t the only company that decided to swap offices in the 484,600-square-foot building. Recruiting firm Sheffield Haworth signed a seven-year-and-seven-month deal to move from the 36th floor to a similar-size 7,901-square-foot space on the 28th floor, Savills’ Evan Margolin, who represented Sheffield in the transaction with Lance Leighton, said.
Sheffield will move into its new space in the fourth quarter of this year. The tenant wanted a newer, more efficient floor plan without giving up the views and familiar commute to the 1960s tower between East 48th and East 49th streets, Margolin said.
Last but not least, the real estate and life sciences investor Innovatus Capital Partners decided to keep its 7,383 square feet on the 25th floor for another five and a half years. It’s held the space since 2017, when it expanded its footprint at the building by 4,200 square feet, CO previously reported.
Newmark’s Matthew Lorberbaum and Brian Goldman represented Innovatus in the deal. Newmark did not immediately respond to a request for comment.
“This surge of new leases and renewals signals that New York City is returning to business as usual and offers a strong indicator that companies are eager to return to in-person work in Midtown,” Sage Realty’s Michael Lenchner, who represented the landlord in-house with Jack Brennan, said in a statement.
The property also scored a few new tenants, with Big Sun Holdings Group taking 5,289 square feet on the 26th floor, Tempus Ex Machina snagging 4,700 square feet on the 36th floor, Lisanti Capital Growth grabbing 4,036 square set on the 14th floor, Bradford Allen Realty Services signing a deal for 3,757 square on the 27th floor, and eatery Serafina Express planning a new outpost within 2,447 square feet on the ground floor.
Celia Young can be reached at firstname.lastname@example.org.