NEW YORK CITY-Avison Young has announced the completion of an approximately 57,000-square-foot new office lease on behalf of law firm Meister Seelig & Fein LLP at SL Green Realty Corp.'s 125 Park Ave., across the street from Grand Central Terminal.
The move marks a big expansion for the firm, which currently occupies about 38,000 square feet at 140 E. 45th Street. Meister Seelig will take occupancy of its new space at 125 Park Ave. next year, after its build-out is completed. The lease comprises the entire seventh and eigth floors of the building.
Avison Young VP Jason Meister represented Meister Seelig & Fein in the transaction, along with Colliers International vice chairman Howard Grufferman. SL Green was represented in house by David Kaufman. Scott Newmark and Robin Topol of Meister Seelig & Fein served as in-house legal counsel for the deal, while Noah Shapiro and Lisa Greenbaum of Haynes and Boone LLP represented the building owner, SL Green.
“In securing this new location two years in advance of Meister Seelig & Fein's current lease expiration, we were able to lock in today's market rates before their expected increase, while still enabling the firm to live out the remainder of its lease term,” says Meister. “Additionally, the firm's new space at 125 Park Avenue comes outfitted with significant build-out, as well as a sizable outdoor terrace on the 7th floor, affording additional value and a rare amenity.”
The law firm wanted to stay in its neighborhood while finding space to expand, adds Mark Seelig, managing partner. “Our new office space allows us to maintain our presence in the desirable Grand Central neighborhood, where we have been located for 20 years, while providing us with the additional space we need to support our continued, extensive growth.”
Adds Stephen Meister, partner, “SL Green's first-rate stewardship of 125 Park Ave. was also a key factor in our decision to relocate to this well managed and maintained building.”
125 Park Avenue features a contemporary lobby, high ceilings, updated building systems and a strategic location very close to Grand Central Terminal and numerous subway lines.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
