Search
 

Law, Financial Services Firms Lead Leasing Charge

NEW YORK CITY-One financial company nearly doubles its space, while a law firm signs on the dotted line and plans for expansion.

By Barbara Jarvie | Updated on April 20, 2005

NEW YORK CITY-Nearly doubling its space, Laurus Funds, has expanded into a second full-floor of 10,366 sf at 825 Third Ave. in the Plaza District. The company now occupies approximately 21,000 sf.

Laurus, which has $800 million under management, has taken the space in a sublease from Morgan Stanley. Although the terms of the deal were undisclosed, the asking price for the space was $51 per sf.

Michael Kaufman and Jack Wynne of Kaufman/Adler Realty negotiated the deal for Laurus. “Prices in the Plaza District have risen significantly over the past several years,” Kaufman says. “825 Third Ave., however, offers clients prestige, but at reasonable rates not found in most other buildings in the area.” Phil Sprayregen of Byrnam Wood represented Morgan Stanley.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.