JFB Legal Inks 8K-SF Sublease With Cleary Gottlieb at One Liberty Plaza
By Rebecca Baird-Remba October 10, 2023 4:04 pm
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A small law firm, JFB Legal, is subleasing space from multinational law firm Cleary Gottlieb at Brookfield (BN)’s One Liberty Plaza, according to brokers involved in the deal.
JFB inked an eight-year deal for 8,000 square feet in the 54-story building, according to Compass’ Adelaide Polsinelli, who represented the subtenant in the deal. Asking rent for the space was $55 per square foot. It will relocate from nearby 299 Broadway, which is a few blocks north and east of One Liberty Plaza.
Polsinielli handled the transaction with her Compass colleague Lauren Curcio. It wasn’t clear if the sublandlord, Cleary Gottlieb, had a broker in the deal.
The 1,200-person corporate law firm Cleary Gottlieb has been headquartered at One Liberty Plaza since 1990, expanding to 550,000 square feet in the building back in 2007. The firm employs 600 people across the 34th to 45th floors and also has offices in California, Brazil, France and Germany. It put 140,000 square feet of space up for sublease in 2021.
Other tenants in the 2.3 million-square-foot Financial District tower include media company Business Insider, cosmetics brand Avon, consulting firm Aon, flexible workspace provider Convene, the Lower Manhattan Development Corporation and Cushman & Wakefield.
Polsinelli explained that the lease indicated that “the downtown office market is alive and well. This transaction shows resounding proof that the giants of the business world are not settling; they’re making a bold leap with premium office spaces.”
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com
