King & Spalding Becomes Anchor Tenant with 26,500 SF Lease

NEW YORK CITY-International law firm King & Spalding LLP signed a lease for 26,500 sf on the entire 32nd floor of the 42-story tower at 1185 Avenue of the Americas. This lease completes the firm’s expansion in the building, which has taken place over the course of the past five years. King & Spalding is now the legitimate anchor tenant at 1185, occupying a total of 132,500 sf on floors 30 through 35. A lease price was unavailable; however rent on other floors in the property goes for $59 per sf.

Insignia/ESG’s Richard Bernstein and Susan Kahaner arranged the ten-year deal, co-terminus with the lease expirations on the firm’s other floors, while Ronnie Goldberger and Scott Klau of Newmark & Co. Real Estate Inc. represented the landlord, 1185 LLP, an investment group led by Joe Chetrit.

“This is a great coup for King & Spalding, something the Firm has been trying to achieve since it moved into the building six years ago,” says Bernstein.