The Chrysler Building, 405 Lexington Ave./ Photo by Betsy Kim
NEW YORK CITY—Moses & Singer is staying at the Chrysler Building. The century-old law firm signed an early lease renewal for 73,485 square feet in one of the New York's most identifiable landmarks, owned by Tishman Speyer. The new contract will keep Moses & Singer at 405 Lexington Ave. for at least 15 years. A source with knowledge of the deal tells GlobeSt.com that the asking rent was $65 per square foot.
“Our new lease provides stability and continuity for the firm, and it also enables us to make our space more efficient to accommodate future growth. The timing on this was perfect. We are excited to enter into our new lease on the eve of our centenary, and happy to have avoided the distraction and stress of a pending lease expiration,” says the law firm's chairman Alan Kolod.
“Moses & Singer, one of New York's oldest premier law firms, wanted to maintain its presence in the Chrysler Building, one of New York's truly iconic addresses,” said Colliers international tri-state president, Michael T. Cohen. He represented the tenant with the brokerage firm's chairman, Robert Tunis; executive director, Eric Feriello; and associate Jessica Verdi. Tishman Speyer was represented in-house.
“Moses & Singer embraced the tenancy with an early renewal and a redesign of their space,” says Cohen. Colliers will be the project manager for the space's redesign.
Tunis says that although two-and-a-half years remained on the lease, Moses & Singer worked with Tishman Speyer on an attractive new long-term agreement that allows the law firm to retain the entire 12th and 13th floors.
The art deco Chrysler Building is one of the world's most recognized skyscrapers, and a premier Midtown office address.
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
Already have an account? Sign In Now
*May exclude premium content© 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.
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.
