Law Firm Quinn Emanuel Moving to 132K SF at 295 Fifth Avenue
By Mark Hallum November 27, 2023 11:36 am
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Global litigation firm Quinn Emanuel Urquhart & Sullivan is relocating its New York City headquarters from 51 Madison Avenue.
The company signed a 132,000-square-foot lease at 295 Fifth Avenue to occupy the eighth through 10th floors of the 17-story building, according to owners Tribeca Investment Group, PGIM Real Estate and Meadow Partners.
The landlords did not disclose the length of the lease but said asking rent in the building is between $94 and $135 per square foot. The deal was first reported by the New York Post.
It’s unclear when Quinn Emanuel plans to move into its new digs, which is about six blocks away from its current offices. The Los Angeles-based law firm renewed its 159,562 square feet at 51 Madison in 2020, Crain’s New York Business reported.
“The deal affirms a larger trend in Midtown South: As technology firms have dialed back their leasing activity, the gap is being filled by firms from traditional industries that are realizing upgraded buildings in Midtown South bolster their initiatives to attract and retain talent,” said CBRE (CBRE)’s Mary Ann Tighe, who represented the owners with David Hollander, Peter Turchin, Brett Shannon, Liz Lash and Hayden Pascal.
Another CBRE team of Lewis Miller, Greg Maurer-Hollaender and Cara Chayet negotiated on behalf of the tenant.
295 Fifth Avenue takes up the full block between 30th and 31st streets. The building, also known as the Textile Building, was constructed in 1920 by George Backer and recently underwent a $350 million redevelopment that included a new lobby, outdoor workspaces, a courtyard, and new elevators, windows and HVAC systems, as well as a 34,000-square-foot penthouse, according to the landlord. Quinn Emanuel is the first tenant the owners signed after the renovation.
Mark Hallum can be reached at mhallum@commercialobserver.com.
