The firm, which has been a Lower Manhattan resident since 1792, plans to move its offices and 800-person New York-based legal and administrative staff to the site early next year. The firm has been, and is consolidating its offices from 125 Maiden Lane and 100 Maiden Lane. The firm reportedly paid $20 million for the 24-story, 325,000-sf 100 Maiden Lane site in 1984 and simply needs more space.

The Cadwalader firm was represented by the Studley team of Mitchell Steir, Michael Colacino, Matthew Barlow and David Goldstein. Dennis Friedrich, Michael Berman and Ed Hogan handled the transaction for Brookfield. The previous tenant, Lehman Bros. was represented by the CB Richard Ellis team of chairman, tri-state region Robert Alexander, Michael Geoghegan, Bradley Gerla and Bruce Surry.

The move has a total cost anticipated to approach approximately $75 million including renovation on 14 floors in the building. There is also the potential to add another 250,000 sf of space. The exact financial terms of the lease were not released, but space in the building currently goes for $35 to $40 per sf. Brookfield will record net lease termination income of approximately $60 million in the second quarter, reflecting this and other transactions.