Phillips Nizer Takes Full Floor at SL Green’s 485 Lexington Avenue in New York
09/13/2017JLL represents tenant, building owner in lease of 38,243 square feet at Class A, 929,765-square-foot office building
New York, NY - JLL has completed a new transaction for Phillips Nizer LLP with building owner SL Green Realty Corp. at 485 Lexington Avenue. The premier law firm signed a lease for 38,243 square feet at the 929,765-square-foot office building.
The tenant and the building owner were both represented by JLL. Phillips Nizer was represented by Alexander M. Chudnoff, vice chairman, and Abraham Cooper, associate. SL Green was represented by Paul Glickman, vice chairman, and Benjamin Bass and Diana Biasotti, both senior vice presidents. They worked closely with David Kaufman, senior vice president, with SL Green.
Phillips Nizer provided its own legal representation, led by Marc A. Landis, managing partner, along with senior counsel Robert L. Bachner and counsel Steven J. Rabinowitz. Loeb & Loeb partner Joseph De Vesta represented SL Green.
“Phillips Nizer, one of the most recognized and respected names in the legal community, was looking to relocate its offices to a single floor in a premier, high-end office building,” said Chudnoff. “485 Lexington Avenue offered the firm an ideal opportunity to move in to a top-tier building in Midtown near its ever-growing client base.”
Phillips Nizer signed a 10 year lease for 38,243 square feet and will occupy the entire 14th floor at 485 Lexington Avenue, which is located between East 46th and East 47th streets. The law firm is relocating to the office building from 666 Fifth Avenue.
The 31-story 485 Lexington Avenue was designed by Emery Roth & Sons and constructed in 1956. The property is steps away from the newly-created north entrance to Grand Central Terminal and enjoys unparalleled access to a vast array of subway, bus and train lines. The building’s substantial, efficient base floors are complimented by boutique tower floors that offer dramatic views of the Manhattan skyline. Amenities at 485 Lexington Avenue include extended HVAC hours and a 100-car, on-site parking garage.
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,400 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2016, the New York tri-state team completed approximately 28.2 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $12.0 billion; managed projects valued at $7.9 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 146.7 million square feet.
About Phillips Nizer LLP:
Phillips Nizer LLP, founded in 1926 by world-renowned trial attorney Louis Nizer, represents domestic and international clients in business, finance and real estate transactions, intellectual property matters, commercial litigation and tax and estate planning, with a particular focus on the entertainment, fashion, real estate and technology industries. The firm is a member of Ally Law, a worldwide association of independent mid-sized law firms. For further information, visit www.phillipsnizer.com.
About JLL:
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
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