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Morgan, Lewis & Bockius recently handled one of New York City’s biggest lease deals in recent years when PricewaterhouseCoopers signed an 800,000-square-foot sublease at 300 Madison Avenue. Morgan Lewis partner Bradley A. Kaufman, senior associate Michael J. Rhee and associate Rebecca Bunyasaranand, handled the deal, with William D. Riedman of PwC’s general counsel office. The 30-year sublease for the new 35-story building starts in the $60s per square foot, and is reportedly worth nearly $2 billion. It will bear the name PricewaterhouseCoopers Center. Most of the firm’s 3,500 employees will move into the building by January 2005, occupying floors 11 through 35. Brookfield Properties built the tower for CIBC World Markets, which will occupy the lower floors. Mayer Brown Rowe & Maw partner Robert Bressman and senior associate Lori Philipson represented CIBC in the negotiations. Kathleen G. Kane, senior vice president and general counsel of Brookfield, represented the landlord. David Jarman and Robert Bourne handled the negotiations for PwC with brokers Lou Varsames and Steve Ernst of CLW Real Estate Services Group and Whitley Collins of CB Richard Ellis. Romel Canete of Newmark & Co. Real Estate acted as lead financial advisor to PwC. Sal Iannuzzi acted for CIBC.
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Midtown’s Fashion District has attracted several law offices recently, with a spate of leases signed in the area. The law firm of James A. Robbins P.C. has signed a 10-year lease for 3,207 square feet on the fifth floor of 1375 Broadway, at 37th Street, to be shared with accounting firm Sudran Dizenhaus & Assoc. Mr. Robbins represented himself and the accounting firm in the negotiations. In-house counsel Peter Kassover represented the landlord, GVA Williams. The terms of the lease were not disclosed, but the asking price at the 27-story pre-war building was $25 per square foot. In a second deal, the Law Firm of Stuart Lloyd Weiss has signed a 10-year lease for 2,793 square feet at 102 West 38th Street. Asking price for the space was $27 per square foot. There was no attorney for the landlord, Adams & Co. In a third deal, partner Sang Sim represented his New Jersey-based law firm Sim & Park in negotiations for its first offices in New York City, at 450 Seventh Avenue, at West 34th Street. The firm signed a five-year lease for 1,400 square feet in the 1931, 46-story building. The asking price was $32 per square foot. There was no attorney for the landlord, the Kaufman Organization. Broker David Menaged of Adams & Co. acted for Robbins and Dizenhaus in the first deal, with Perry Mesmer of GVA Williams acting for the landlord. Mr. Menaged also negotiated the lease on behalf of the Weiss firm. Jim Buslik, also of Adams & Co., acted for the landlord in that deal. Eric Levy of Adams acted for Sim and Park, and Barbara Raskob of Adler Realty acted for the Kaufman Organization in that transaction.
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Correction Shirley S. Lu, an associate at Mayer, Brown, Rowe & Maw, represented KBS Realty Advisors in the recent sale of 261 Fifth Avenue to L&L Acquisitions and Carlyle Realty Partners. Her client was misidentified last week. Real Estate Marketplace is written by Eileen AJ Connelly. To report a transaction, contact the Law Journal at [email protected].

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