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Law Firm Makes Leasing News at News Bldg.

NEW YORK CITY-Jones Day has signed on for 44,034 square feet formerly occupied by Pfizer, highlighting this week's wrap-up of deals.

By Paul Bubny | Updated on April 30, 2010

New York City
Law firm Jones Day’s New York office has signed a 44,034-square-foot, 16-year-plus lease for a portion of the second floor at SL Green Realty Corp.’s 220 E. 42nd St., a/k/a the News Building. The new lease follows a lease buy-out by Pfizer for the same space late last year. Studley’s Mitchell Steir and David Goldstein represented Jones Day in the transaction, while David M. Kaufman provided in-house representation for SL Green. Asking rent for the space was $45 per square foot.

The Kaufman Organization has brokered a 10-year, 18,500-square-foot lease at 475 Tenth Ave. for tech firm LivePerson Inc. Lease terms were not disclosed; asking rent for the space is $35 per square foot. Michael Kaufman and Grant Greenspan of the Kaufman Organization represented the tenant while Kristin Fisher of the Adler Group represented the landlord in the transaction.

A five-story, 18,460-square-foot mixed-use building at 1248-1250 Lexington Ave., a/k/a 133 E. 84th St. has sold for $10 million. Eastern Consolidated’s David Schechtman, Marcia Rose Yawitz and Geoffrey Rand represented the seller, the estate of Lilian Malkin, and procured the buyer, the Parkoff Organization. In a release, Yawitz says the property traded at less than a 5% cap rate.

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