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Law Firm Takes 100,000 SF

NEW YORK CITY-Planning a future expansion here, Seyfarth Shaw LLP commits to 100,000 sf at the New York Times Building. The firm inks a 17-year deal and expects to be housed at the site when it opens in the second quarter of 2007.

By Barbara Jarvie | Updated on May 31, 2006

NEW YORK CITY-Seyfarth Shaw has inked a 17-year deal for approximately 100,000 sf of space in the New York Times Building. The law firm is the first tenant to sign on for space in the site, which is marketed at $85 per sf. Seyfarth Shaw will move in during the second quarter of 2007, when the building will be open for occupancy. The firm currently has 80 attorneys at 1270 Ave. of the Americas but is planning to have a “significant expansion” here, firm officials say. The firm currently has 10 offices in the US and Europe.

The firm will occupy floors 31, 32 and 33 of site on Eighth Avenue and 41st Street. It also inked an option to renew. When completed, the New York Times Co. will own and occupy floors two through 28; FCRC and its partner, ING Real Estate, will own floors 29 through 52.

Bruce Ratner, president and CEO of Forest City Ratner Cos., says the firm has a number of other leases in play for the site. “We have a number of other leases out, but Seyfarth Shaw is the first to cross the finish line.” FCRC was represented by a team led by Mary Ann Tighe and includes Howard Fiddle, Tim Dempsey, Pete Turchin, Matt Preotle and Jason Pollen of CB Richard Ellis. Seyfarth Shaw was represented by Lewis Miller, Jason Gorman, Michael Wellen, David Kleinhandler, Ken Rapp and Todd Lippman, also of CBRE. The firm could not comment on the deal.

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