Law Firm Sublets 42K SF From CBS at 1345 Avenue of the Americas
By Mark Hallum May 31, 2023 12:31 pm
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A law firm is subleasing a fair chunk of space in Midtown.
CBS Broadcasting subleased 41,613 square feet to law firm Greenspoon Marder for eight years at Fisher Brothers’ 1345 Avenue of the Americas, according to tenant brokers.
Greenspoon Marder will relocate from 590 Madison Avenue in an expansion from 25,000 square feet, according to Savills. The brokerage did not disclose the asking rent, but average asking sublease rent in Midtown was $64.35 per square foot in the first quarter, according to Newmark.
It wasn’t immediately clear if CBS plans to completely vacate the property or if the network is only subletting part of its footprint.
“Given the current office leasing market, we are proud to have completed this expansion for Greenspoon Marder,” Savills’ Jeffrey Peck, who represented the law firm alongside Daniel Horowitz, Thomas Capocefalo and Jacob Stern, said in a statement. “Recognizing the firm’s unique needs, as it looks to grow and entice partners and staff back to the office, was key in our strategy and ultimately helped us to identify this turnkey space in one of the most highly amenitized buildings in Manhattan.”
Bryan Boisi and Paul Ferraro from Cushman & Wakefield (CWK) represented CBS in the deal. C&W did not immediately respond to a request for comment.
The Fisher Brothers recently pumped $120 million into the renovation of 1345 Avenue of the Americas that brought additional amenities for tenants to help attract workers back to their stations. Additions include @Ease1345, which offers a lounge, wellness center and meeting spaces similar to what the company did with 28,000 square feet at 605 Third Avenue known as @Ease 605.
Mark Hallum can be reached at mhallum@commercialobserver.com.
