White-Collar Criminal Defense Law Firm Spears & Imes Takes 8K SF at 767 Third Avenue
By Celia Young June 27, 2022 5:54 pm
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The long arm of the law is reaching into Midtown East. White-collar criminal defense and securities enforcement law firm Spears & Imes inked a deal for 7,816 square feet across the entire 36th floor of 767 Third Avenue.
Spears & Imes signed a five-and-a-half-year deal to relocate from a similar-size space at 51 Madison Avenue to the 40-story office tower. The law firm will relocate to the building between East 47th and East 48th streets this week, said Resolution Real Estate’s Jeffrey Zund, who represented the tenant in the transaction. Asking rent at the building ranges from $70 to $85 per square foot, according to the William Kaufman Organization, the building’s landlord.
Sage Realty, Kaufman’s leasing and management arm, snagged $123 million in debt from Bank of America last year to refinance the building and expand its 7,187-square-foot seventh-floor amenity center to add a cafè, bar, lounge, boardroom and landscaped terrace. The landlord will also finish adding a new reception desk and elevator bank and will update the lobby with floor-to-ceiling glass panels before the end of the year, Commercial Observer previously reported.
“We’re doing a full repositioning,” Sage’s Michael Lenchner, who represented the landlord with Jack Brennan, said. “What makes this building really unique is the floors range from around 7,500 to 7,800 square feet and you get lots of windows, four great corners of light and views, your own aircondition units and your own restrooms.”
The renovations to the space are what drew the tenant to relocate to the property, Zund said.
“Between the improvements, the level of quality of the buildout that the landlord was providing, [and] its convenient location to Grand Central, it aligned with the needs of their firm,” said Zund.
Spears & Imes wasn’t the only law firm to recently ink a deal at the FXCollaborative-designed building. Construction law firm Greenberg, Trager & Herbst signed a lease to relocate its existing 3,760-square-foot offices at the property from part of the 12th floor to the 21st floor.
The property is home to communications firm Argot Partners, finance firm Monness, Crespi, Hardt & Co. and the Consulate General of Jamaica. The commercial real estate owner and manager AGW Holding also took a deal for 2,572 square feet on part of the 27th floor, according to the landlord.
Celia Young can be reached at cyoung@commercialobserver.com.
