Chrysler Building Renews 73,000 SF Lease With Law Firm
Moses & Singer signed a new 10-year lease at one of New York City’s most recognizable buildings.
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.