Law Firm Binder & Schwartz Takes 8.5K SF at 675 Third Avenue
By Celia Young February 27, 2023 1:30 pmreprints
Law firm Binder & Schwartz scored some new digs in Midtown East.
Binder & Schwartz inked a seven-year deal to relocate to 8,496 square feet across the entire 26th floor of 675 Third Avenue, between East 42nd and East 43rd streets, Commercial Observer has learned.
Asking rent was $74 per square foot, according to landlord The Durst Organization.
The law firm will ditch its current 6,851 square feet at 366 Madison Avenue in June to accommodate its growing number of employees, said Lauren Handelsman, a partner at Binder & Schwartz.
Binder & Schwartz was founded in 2013 by Neil Binder, who served as the assistant U.S. attorney during Enron’s bankruptcy case in the early 2000s, and Wendy Schwartz to focus on commercial, financial and bankruptcy law, the Wall Street Journal reported. The duo represents major financial firms and hedge funds, plus businesses that become the subject of government investigations, according to Binder & Schwartz’s website.
Durst’s Ashlea Aaron and Bailey Caliban handled the transaction for the landlord in-house. JLL’s TJ Hochanadel represented Binder & Schwartz in the lease. Hochanadel did not immediately respond to a request for comment.
In addition to Binder & Schwartz’s deal, recruitment firm Prince Houston Group recently renewed its 3,487-square-foot space on part of the 22nd floor of the tower for 15 months, said CBRE’s Clyde Reetz, who represented the tenant. Asking rent was $74 per square foot, according to Durst.
Prince Houston first moved into the building in 2016 in a five-year deal and tacked another two years to its original commitment in 2021. It decided to stick with the property again because it liked the design of its offices, Reetz said.
“The landlord did such a wonderful job building out the space originally that [the] alternative to move was not as compelling as it was to stay,” Reetz said.
Aaron and Caliban handled Prince Houston’s lease for Durst in-house.
Celia Young can be reached at firstname.lastname@example.org.