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Law Firm Adds 51,000 SF at 919 Third

NEW YORK CITY-In what could be an encouraging sign of better times ahead, law firm Schulte Roth & Zabel expands its space by 51,000 sf in the Turtle Bay section of the city. The firm now occupies 287,000 sf at 919 Third Ave.

By Barbara Jarvie | Updated on November 04, 2003

NEW YORK CITY-Schulte Roth & Zabel LLP has committed to an additional 51,000 sf at its existing headquarters at 919 Third Ave. in the Turtle Bay section in the city. The long-term lease, which is in excess of 15 years, is co-terminus with the 300-attorney firm’s existing space for 230,000 sf, bringing its total amount of space up to 287,000 sf. Financial details of the transaction were not released, however retail space in the building is currently advertised at $125 per sf.

“The need for additional space is a result of steady, internal growth derived from increased business from our clients, and not as a result of a merger or acquisition with another law firm,” explains Jeffrey A. Lenobel, chairman of the firm’s real estate department. Schulte was at 900 Third before moving to 919 three years ago. They started out with 220,000 sf then expanded to 230,000 sf prior to the current expansion. Schulte Roth plans to occupy its space subsequent to build-out.

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