{"id":325154,"date":"2021-08-16T02:00:21","date_gmt":"2021-08-15T23:00:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/law-firm-expanding-into-919-third-ave-in-ginormous-deal\/"},"modified":"2021-08-16T02:00:21","modified_gmt":"2021-08-15T23:00:21","slug":"law-firm-expanding-into-919-third-ave-in-ginormous-deal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/law-firm-expanding-into-919-third-ave-in-ginormous-deal\/","title":{"rendered":"#Law firm expanding into 919 Third Ave. in ginormous deal"},"content":{"rendered":"<p>&#8220;<strong>#Law firm expanding into 919 Third Ave. in ginormous deal<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--columnist inline-module--author\">\n<div class=\"inline-module--author__img\">\n            <img decoding=\"async\" width=\"76\" height=\"69\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png?w=76&amp;h=69&amp;crop=1\" class=\"attachment-nyp_columnist size-nyp_columnist\" alt=\"Steve Cuozzo\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png 76w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/steve-cuozzo.png?w=38 38w\" sizes=\"auto, (max-width: 76px) 100vw, 76px\"\/><\/div>\n<\/div>\n<\/aside>\n<p>Defying predictions that everyone will soon work from home \u2014 and the reality of a still struggling Manhattan office market \u2014 another major tenant has signed a jumbo Midtown lease.<\/p>\n<p>Global law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo is moving its Manhattan headquarters to SL Green\u2019s 919 Third Ave. The deal for 101,394 square feet is one of the city\u2019s largest this year.<\/p>\n<p>The 20-year commitment\u00a0includes floors 37-39 and part of the concourse at the 47-story tower at East 55th Street, which is also home to Bloomberg and Schulte Roth. Iconic burger joint PJ Clarke\u2019s is joined to the tower at the hip.<\/p>\n<p>Although its new digs will be about the same size as\u00a0Mintz, Levin currently has at 666 Third Ave., improved floor design will enable the firm to add \u201csignificantly more attorneys,\u201d according to SL Green executive vice-president Steven Durels. The asking rent was $80 per square foot.<\/p>\n<p>Durels called the lease \u201cfurther confirmation of an improving market as tenants increasingly make long-term commitments in preparation for a return to office.\u201d<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/919-3rd-Ave.jpg.jpg?quality=90&amp;strip=all&amp;w=675\" alt=\"A view of the entire office tower at 919 Third Avenue\" class=\"wp-image-19139624\" width=\"363\" height=\"551\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/919-3rd-Ave.jpg.jpg?quality=90&amp;strip=all&amp;w=726 726w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/919-3rd-Ave.jpg.jpg?quality=90&amp;strip=all&amp;w=545 544w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/919-3rd-Ave.jpg.jpg?quality=90&amp;strip=all&amp;w=363 363w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/919-3rd-Ave.jpg.jpg?quality=90&amp;strip=all&amp;w=182 181w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/919-3rd-Ave.jpg.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 363px) 100vw, 363px\"\/><figcaption>The tower also houses <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outfit Bloomberg.<\/figcaption><figcaption><span class=\"credit\">SL Green<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Stephen J. Gulotta Jr., managing member of Mintz\u2019s New York office, said the firm \u201cis coming off six consecutive years of record revenues and profits.\u00a0We are growing rapidly and we believe 919 Third is the perfect location for us to continue that growth.\u201d<\/p>\n<p>Mintz, Levin\u2019s is the latest in a succession of counter-intuitively large\u00a0office deals that have been completed this year despite howling, near-20 percent Manhattan availability \u2014 perhaps the worst ever.<\/p>\n<p>The commitments are all the more remarkable for including tenants of many kinds at addresses from the Battery to within a few blocks of Central Park.<\/p>\n<p>Downtown, law firm Fried, Frank renewed on 400,000 square feet at One New York Plaza overlooking the harbor.\u00a0On the far West Side, Coinbase set up its first New York office at 55 Hudson Yards.<\/p>\n<p>In Midtown South, spirits-maker Beam Suntory moved its headquarters from Chicago to nearly 100,000 square feet at landmarked 11 Madison Ave.<\/p>\n<p>And in Midtown\u2019s heart, pharmaceutical firm Schrodinger\u2019s\u00a0took 109,000 square feet at 1540 Broadway, Empire Health grabbed\u00a070,000 square feet at 1 Penn,\u00a0and private equity firm Hellman &amp; Friedman signed at\u00a0425 Park Ave., the first new lease there in two years.<\/p>\n<p>Meanwhile, as we reported last week, Chubb Group is in advanced talks for a quarter-million square feet at 550 Madison Ave. A deal could be finalized soon and several other leases are said to be in the works at the former Sony headquarters.<\/p>\n<p>Newmark\u2019s Moshe Sukenik, Eric Zemachson and Jason Perla represented Mintz at 919 Third Ave. SL Green was represented in-house.<\/p>\n<hr class=\"wp-block-separator\"\/>Jewish community day-school Shefa is expanding and moving to the West Side, thanks to some interesting circumstances on West 60th Street.<\/p>\n<p>Shefa, Hebrew for \u201cabundance,\u201d just purchased a 99-year ground lease for 75,000 square feet on the entire, long-vacant 11-story property from Extell. The institution for educationally challenged pupils in grades 1-8 will make 17 W. 60th St. its new home, growing from just 25,000 square feet at 40 E. 29th St.<\/p>\n<p>Although terms were not released, city Finance Department records show the price as $49.5 million.<\/p>\n<p>\u201cThis transaction enables Shefa School to pursue its mission in an ideal location steps from Central Park and the Columbus Circle transit hub,\u201d said Ilana Ruskay-Kidd, the founder and head of school. \u201cIt will facilitate our effort to support our students\u2019 strengths while helping them to overcome their challenges.\u201d<\/p>\n<p>Shefa was represented by a JLL team headed by Mitchell Konsker and Matthew Astrachan. Extell acted in-house.<\/p>\n<p>But the move was only made possible when Extell abandoned a plan to raze 17 W. 60th for a new project\u00a0that would include the home of the New York Institute of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> at 1855 Broadway next door.<\/p>\n<p>Extell signed a contract to buy 1885 Broadway for $90 million 2019, but NYIT \u2014 which had planned on moving to Queens \u2014 changed its mind. Extell sued and the\u00a0case\u00a0is now in court.<\/p>\n<p>With a much smaller footprint on which to build,\u00a0Extell decided to sell the 17 W. 60th leasehold to Shefa. The school is\u00a0paying to build out the gutted building with the help of $60 million in mostly tax-exempt bonds through the city\u2019s BuildNYC program to aid nonprofit institutions.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/08\/15\/law-firm-expanding-into-919-third-ave-in-ginormous-deal\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Law firm expanding into 919 Third Ave. in ginormous deal&#8221; Defying predictions that everyone will soon work from home \u2014 and the reality of a still struggling Manhattan office market \u2014 another major tenant has signed a jumbo Midtown lease. Global law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo is moving its Manhattan headquarters&#8230;<\/p>\n","protected":false},"author":1,"featured_media":325155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/sized-919-3rd-ave-entrance2.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[114280,70344,83344,76291],"class_list":["post-325154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-15-21","tag-coronavirus-in-ny","tag-law-firms","tag-midtown-east"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/325154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=325154"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/325154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/325155"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=325154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=325154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=325154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}