For Comverse, the new deal represents an expansion as well as a relocation--within the same building. The company, which manufactures and supports computer and telecommunications systems and software for over two billion subscribers worldwide, has been a full-floor tenant in the 694,000-square-foot office tower since 2006, but its existing space on the 35th floor is slightly less than half the size of the new one. Asking rents at the property range up to $65 per square foot.

Paul Ippolito, Michael Ippolito and Michael Morris of Newmark Knight Frank represented Comverse in the transaction, while John B. Brod and Howard Hersh of PBS Realty Advisors LLC represented Nigro Karlin. SL Green was represented in both transactions by Newmark Knight Frank's David Falk, Peter Schminkin and Danny Levine, and by Larry Swiger and Christopher Gulden, respectively, in-house.

Attorneys were Andrew Lampert and Michael Federmanof Federman Steifman, LLP for Comverse and Paul A. Gangsei of Manatt, Phelps & Phillips, for Nigro Karlin. SL Green's Joan Thompson provided in-house counsel on both deals.

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.