Law Firm Davis & Gilbert Expands to Nearly 100K SF at 1675 Broadway
By Mark Hallum November 9, 2023 2:30 pm
reprints
Law firm Davis & Gilbert is continuing its growth at Rudin’s 1675 Broadway.
The tenant signed a 12,022-square-foot expansion on a new 13-year lease, raising its occupancy in the 35-story building from 86,102 square feet to 98,125 square feet, according to the landlord, which did not disclose the asking rent.
Midtown, however, saw an average asking rent of $82.68 per square foot in the third quarter of 2023, according to a report from CBRE.
“We’re delighted to be able to accommodate Davis & Gilbert’s expansion needs at 1675 Broadway,” Michael Rudin, executive vice president of Rudin, said in a statement.
Lewis Miller, Michael Wellen, Christopher Hogan, Scott Gottlieb and Brian Gell of CBRE (CBRE) negotiated on behalf of Davis & Gilbert while Robert Steinman handled the deal for Rudin in-house. CBRE did not immediately respond to a request for comment.
The law firm has occupied the 31st through 34th floors and a portion of the 35th floor since 2019, with the additional 12,022 square feet making its footprint extend across the top floor of the building between West 52nd and West 53rd streets, according to Rudin.
The deal means that cryptocurrency exchange, Apifiny, which signed a five-year, 12,022-square-foot lease on the 35th floor in September 2021, has vacated the building. Its exit means Davis & Gilbert can occupy the entire 35th floor.
Gannett Co., however, still leases 24,195 square feet on the 23rd floor, which it signed on for in early 2021, as well as Exiger Holdings with 30,900 square feet that was inked starting in February 2020.
Mark Hallum can be reached at mhallum@commercialobserver.com.
