June 15, 2017 Comments Off on Law Firm Claims Rare Space Availability at NY’s 425 Lexington Views: 644 National News, New York News, Northeast

Law Firm Claims Rare Space Availability at NY’s 425 Lexington

Holwell Shuster & Goldberg LLP signed a 59,750-square-foot sublease from Simpson Thacher & Bartlett LLP at New York’s 425 Lexington Ave. The law firm will relocate from 750 Seventh Ave. at the end of the year, expanding from 30,000 square feet.

Holwell Shuster initiated a space search two years before its current sublease expired, and was able to take advantage of the tremendous amount of consolidation occurring within the law firm community.

“While the majority of the legal industry is downsizing, Holwell Shuster stands as a rare example of growth,” said L. Craig Lemle of Savills Studley.

It is the first time since the 31-story, 750,000-square-foot Midtown Manhattan building opened in 1987 that space became available. The building is 100% occupied by original tenants, Canadian Imperial Bank of Commerce and Simpson Thacher.

Savills Studley’s Lemle and Nick Zarnin represented Holwell Shuster. CBRE’s Peter Turchin, Lewis Miller and Ken Rapp advised Simpson Thacher.

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