Kuhn Law Group Among Four New Office Tenants at 370 Lexington Avenue

Entertainment industry litigation firm Kuhn Law Group and four other tenants have signed new leases at 370 Lexington Avenue in Midtown East, Commercial Observer has learned.

In the largest deal, Kuhn Law Group signed a 6,500-square-foot lease at Broad Street Development’s 27-story office tower on the corner of East 41st Street  in a potential relocation from 30 West 21st Street, according to landlord broker Gayle Kennedy.

Asking rent in the building ranges from $62 per square foot on the lower floors to $70 per square foot on the higher levels, according to Kennedy, and the terms of all leases were between three and 10 years.

“The Grand Central small suite inventory just keeps getting smaller due to conversion projects and neighboring buildings catering towards the larger tenant,” Kennedy said in a statement. “Tenants are making very quick decisions, offering premiums to secure their spaces (many times furnished), and locking in rates for longer term leases with the understanding that prices just keep going up.”

Elliot Zelinger of Savitt Partners negotiated on behalf of Kuhn Law Group in the transaction, but did not immediately respond to a request for comment.

Meanwhile, Eikoh North America, a learning services organization for Japanese children living in the U.S., doubled its footprint within the building to 5,031 square feet, according to Kennedy. Junji Miyake of Cushman & Wakefield represented Eikoh in the deal but did not immediately respond to a request for comment.

Commercial real estate capital markets advisory firm BayBridge Real Estate Capital signed a 3,050-square-foot lease at 370 Lexington in a relocation from 485 Lexington Avenue, with Nicholas Markel of Cresa negotiating on its behalf.

“My client, BayBridge, is spinning out of a group that is located at 485 Lexington,” Markel said in a statement. “They were looking for a full service building with flexible opportunities for future growth.”

Prophase Capital Advisors also signed a lease for 2,223 square feet at the building, with William Levitsky and Matthew Augarten of Newmark acting as the broker on its behalf. Newmark did not immediately respond to a request for comment.

Finally, business intelligence firm Opus Fund Services signed for the least amount of space out of the five new deals, with 1,950 square feet. Gregg Cohen of Cresa brokered the deal for the tenant but did not immediately respond to a request for comment.

Mark Hallum can be reached at mhallum@commercialobserver.com.