NEW YORK CITY—Latham & Watkins signed a lease with the Rockefeller Group for 407,000 square feet at 1271 Avenue of the Americas. Industry sources tell GlobeSt.com the lease is for 15 years. The global law firm will occupy floors 25-34 of the 48-story tower at Rockefeller Center with an anticipated move during the second half of 2020. Asking rents for the space that remains available in the building range from $90 to $125.
Latham and Watkins spans 14 countries including 11 offices. The firm is relocating its New York office from 885 Third Ave., remaining in Midtown.
“We have a strong and vibrant practice in New York, and with more than 450 lawyers, it is our largest office in the firm. 1271 Avenue of the Americas is a historic building,” says Michèle Penzer, the New York office managing partner of Latham & Watkins. “Many factors informed our decision to move to 1271, including its central Midtown location, architectural significance, and top quality renovations, coupled with the opportunity to design a new office.”
Since 2016, 1271 Avenue of the Americas has been undergoing extensive renovations designed by architects Pei Cobb Freed & Partners. The project is scheduled to be completed by the end of 2019. The renovations include replacement of the building's glass curtain wall, restoration of the landmarked lobby, HVAC and elevator updates, and redesigned entrances and plazas.
More than one million square feet of the 2.1 million square foot tower have been leased. Major League Baseball and Mizuho Americas are other building tenants with large leases. Approximately 900,000 square feet remains available for leasing.
Completed in 1959, Harrison & Abramovitz & Harris, the architects for all of Rockefeller Center, designed 1271 Avenue of the America. It was built by George A. Fuller Company, which was known for its construction of other prominent New York buildings including the United Nations headquarters, Lever House and the Seagram Building.
Latham & Watkins was represented by Scott Gamber and Craig Reicher of CBRE. The building owner was represented by CBRE's Mary Ann Tighe, Howard Fiddle, John Maher, Sarah Pontius, Evan Haskell and Dave Caperna, and the Rockefeller Group in-house leasing team, Ed Guiltinan and Jennifer Stein.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
