200-Year-Old Law Firm Set to Open New Office in DC
By Keith Loria October 12, 2022 3:14 pmreprints
Cravath, Swaine & Moore has opened its first U.S. office outside New York, inking a 21,065-square-foot lease at 1601 K Street NW in Washington, D.C.
The 200-year-old law firm will take the entire third floor of the 11-story building, with two speculative suites being built and slated to be completed in early 2023. Morgan Stanley owns the 221,924-square-foot office building, having acquired it as part of a six-office portfolio in 2005 that sold for $644 million, according to previous reporting.
“The tenants that have been attracted to 1601 K Street have all been high-end professional services firms looking for well-located, efficient office space to attract and retain employees in an amenity-rich environment with great design and strong ownership,” Andy Eichberg, managing director at Stream Realty Partners, who represented the building’s owner, told Commercial Observer. “Cravath was seeking space that checked all of its boxes including state-of-the-art upgrades, proximity to hotels and federal buildings, and access to major transportation hubs.”
The office will serve as Cravath, Swaine & Moore’s second U.S. office, joining its New York City location at 825 Eighth Avenue. It also has an office in London. Its D.C. location will house resident partners who previously served in leadership roles across federal regulatory agencies.
The building, built in 2006 and renovated in 2020, is in D.C.’s Central Business District, just two blocks from the White House and close to the Washington Monument.
Amenities in the building include a fitness center, a tenant lounge, a roof terrace, a car-charging station and bike storage.
“Securing Cravath as a tenant in this building is a big win for the ownership, validating their continued investment in the building to ensure its position at the top of a competitive market,” Eichberg said.
Stream Realty Partners’ Kyle Luby and Matt Pacinelli joined Eichberg in representing ownership, while Lou Christopher, Asher Inman, Jordan Brainard O’Neil, Lewis Miller, Andrew Sussman and Munish Viralam of CBRE represented the tenant.
Keith Loria can be reached at Kloria@commercialobserver.com.