David Levinson and Robert Lapidus

This has been a very strong year-plus run for L&L Holding, which found itself setting records and kicking off some of the most desired projects of 2025.

In New York, the company leased the final available space at its 47-story 425 Park Avenue, which was already getting $300 a square foot from Citadel for the building’s penthouse. The April 2025 lease to auto dealer Ferrari for its remaining 7,629-square-foot, two-level retail space put the retail and office spaces at 100 percent occupancy.

“No one had ever seen a building like this before,” CEO David Levinson told Commercial Observer in February for an article on the trend-setting buildings commanding the nation’s highest office rents. “If you build something really great, people will pay for it.” 

This past year also saw the opening of the full-block Terminal Warehouse complex in Manhattan’s West Chelsea (a project that earned CO’s Adaptive Reuse Project of the Year award). Developed by L&L along with Columbia Property Trust and Cannon Hill, Terminal Warehouse blends modern office design with the building’s historical use as a warehouse and cargo transportation hub. In October 2025, it signed its first tenant in Convene Hospitality Group, which took 50,000 square feet for a three-floor customizable event space to be known as the Mallory, named after the building’s original designer from the 1890s, George Mallory. The lease-up of Terminal Warehouse is one of the company’s top priorities for the year ahead. 

Indeed, L&L hasn’t been neglecting the grinding out of leases. They also renewed New Zealand’s mission to the U.N. for 11,865 square feet for 11 years at 600 Third Avenue; signed Spanish fitness company Bam Labs to a 11,321-square-foot retail lease for 15 years at 150 Fifth Avenue, bringing that building to 100 percent leased; and moved 195 Broadway tenant Nagarro from a sublease to a direct lease for 41,854 square feet over eight years.

In Miami, October saw the official opening of L&L and Oak Row Equities’ 1 million-square-foot, mixed-use Wynwood Plaza campus, where office tenants include law firm Weitz & Luxenberg, investment firm Claure Group and Amazon, which took 75,000 square feet there.

Levinson also this January launched L&L Infinite, a real estate venture in partnership with former Silverstein Properties CEO Marty Burger that will focus on development, acquisitions and debt strategies across the U.S.