Law Firm Wolf Popper Signs 13K-SF Lease at 570 Lexington Avenue

Wolf Popper, an international litigation firm, has signed a new 12-year, 13,400-square-foot lease at The Feil Organization’s 570 Lexington Avenue, Feil told Commercial Observer. 

The law practice is moving less than two blocks from its current address at 845 Third Avenue and will take over the building’s entire 19th floor. The tenant was represented by Daniel Horowitz, Ira Schuman, Jeffrey Peck, Jacob Stern and Skyler Celotto from Savills. 

“The partners at Wolf Popper were seeking a turn-key solution with competitive economics and the stability of long-term, well-capitalized ownership,” Horowitz said via email. “570 Lexington Avenue delivered on all of those priorities, offering an impeccably maintained, landmark-quality building with the infrastructure and environment to support the firm’s continued success.”

The asking rent was $70 per square foot. 

“Relocating our New York City office to 570 Lexington was a strategic decision,” Emily Madoff, managing partner of Wolf Popper, said in a statement announcing the deal. “Amid strong demand for premium office space in Midtown, Feil’s partnership made the transition seamless and ensured that we secured a modern, thoughtfully designed environment that supports our attorneys’ work.”

Additionally, law firm Mandelbaum Barrett has gone from a subtenant at 570 Lexington Avenue, occupying 3,116 square feet of space, to a primary tenant occupying 11,330 square feet across the entire 21st floor, Feil said. The new lease runs 10 years.

“After many successful years at 570 Lexington, we’re excited to expand our presence and grow into a new full-floor space,” William S. Barrett, CEO of Mandelbaum Barrett, said in the statement. “The Feil Organization’s ability to meet our needs and provide a space that combines an ideal location with a collaborative environment makes 570 Lexington the perfect home for our firm as we continue to grow and serve our clients.”

Asking rent in this deal was also $70 per square foot. The brokers representing Mandelbaum Barrett were not named. 

The Feil Organization represented itself in-house in both deals. 

“What’s been beneficial about 570 for some time now is that it’s a great asset, a long-term historical building with great bones and good natural light,” Andrew Wiener, head of commercial office leasing at the Feil Organization, told CO. “As you’ve seen the rest of the premier space along Park Avenue, Madison Avenue and Fifth Avenue get leased up, you’re now seeing the next level of assets start to lease up. That’s where 570 comes along. It’s always been a very well-leased building over the long term.”

Wiener said the building is on track to reach 90 percent occupancy next year. 

570 Lexington Avenue, built in 1932, is a landmarked 50-story skyscraper. It served as the headquarters for GE for many years, and was known as the GE Building. Current tenants include the International Federation of Accountants, attorney Gretchen Schumann, and Sotheby’s Institute of Art. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.