Law Firm Takes 26,294 SF Downtown

NEW YORK CITY-Law firm Stern & Montana LLP takes its act Downtown leasing 26,294 sf of space on the entire 20th and a portion of the 21st floor at 115 Broadway. Though no financial details of the transaction were released, the asking price at 115 Broadway is $36 per sf.

Maria Marra of CRG Real Estate Services LLC, an affiliate of Cogswell Realty Group LLC, represented the tenant. Adam Foster, Brad Gerla and Gerald Freidman and Ronni Horenstein of CB Richard Ellis Real Estate Services Inc. represented the landlord, Capital Properties Inc.

According to Marra, the law firm is “delighted” to be part of the overall downtown revitalization. She says there was an exhaustive search of both Midtown and Downtown properties, adding that the gothic-style 115 Broadway seemed to offer a unique growth opportunity in a space with an interesting history since it formerly served as a Lawyer’s Club. She notes that the space also offered favorable rents and numerous incentives administered by the New York City Economic Development Corp. The space is a duplex with offices on each side, on both levels with quasi- balcony that looks over onto the first level. The space also features two fireplaces.