1250 Broadway rendering
NEW YORK CITY— Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP has inked a 15-year lease with Eyal Ofer's Global Holdings Management Group for 44,718 square feet at 1250 Broadway. The technology law firm will take up three full stories, encompassing the 20th through the 22nd floors.
Built in 1968 and designed by architects Shreve Lamb & Harmon, the 39-story skyscraper is also known as Nomad Tower. The asking rent was $88 per square foot, according to JLL which represented Nomad Tower.
The technology law firm is relocating from 220 W. 42nd St., which is between Seventh and Eighth avenues in Midtown West to the Midtown South building on Broadway in Koreatown, between W. 31st and W. 32nd streets.
Global Holdings is completing its over $50 million renovations and repositioning of the property. The capital improvements included designing a new lobby having a two-story amphitheater with seating for about 100 people, and creating a tenants' lounge. The building is the tallest reinforced concrete building in Manhattan and features a distinctive waffle ceiling throughout the building.
JLL's Paul N. Glickman, Mitchell Konsker, Benjamin Bass, Diana L. Biasotti and Harley Dalton represented Nomad Tower. Craig Panzirer represented Global Holdings Management Group in-house. Savills' John Mambrino and Nick Farmakis represented Gunderson Dettmer.
Global Holdings acquired the property from a joint venture of Jamestown, MHP Real Estate Services, and David Werner Real Estate for $565 million, according to Real Capital Analytics.
Other major tenants include Zillow Group which leased 130,000 square feet and TransPerfect which closed a 123,000-square-foot deal in February.
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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.
