Expanding its New York City office, The Lanier Law Firm has added 6,076 square feet at 126 E. 56 St., also known as Tower 56. This is the second expansion for the Houston-based litigation law firm, which now has a total of 18,233 square feet.
Lanier has been a tenant at Tower 56 since 2004 and officially opened the office in 2005. With the expansion, it has three entire floors in the building. It has renewed its lease for 12,147 square feet on the sixth and seventh floors, and added the eighth floor, through 2023.
The owner of the 33-story, nearly 200,000-square-foot class-A building, located between Park and Lexington avenues, is Pearlmark Real Estate Partners.
John Lewin, a partner at Irwin Lewin Cohn & Lewin, represented the law firm.
Kenneth Sold, a partner at Loeb & Loeb, along with associate Nichole Cortese represented the landlord.
Tower 56, which was once owned by Macklowe Properties, was acquired by Transwestern Investment Company in 2008 for $158 million, according to public records. The company later changed its name to Pearlmark and is no longer part of Transwestern, said a Transwestern spokeswoman in Houston.
Despite the change of owners, the management of the building has been consistent and responsive to the tenants, said Richard Meadow, The Lanier Law Firm’s New York City managing attorney.
The asking range for a class-A office building in the Midtown East Plaza district is between the low $60s to mid $70s per square foot, according to Studley’s May report.
"Lanier was opportunistic in securing a contiguous floor that was built out by another law firm," Silvio Petriello, an executive vice president in CBRE Group Inc.’s brokerage services, said in a statement. "As a result, the firm was able to limit its out-of-pocket capital, which is significant to law firms," he said.
The Lanier Law Firm was founded in 1990 by W. Mark Lanier. The 59-attorney firm has 40 attorneys in Houston and 11 lawyers in New York City, with another office in Los Angeles.
Lanier, which was recognized for its VIOXX litigation and verdict against Merck & Co, continues to grow its pharmaceutical liability litigations. Meadow said the firm has "thousands of cases involving pharma litigation," such as that targeting Fosamax, an osteoporosis medication.
In addition to pharmaceutical litigation, attorneys in the New York office handle litigation in a variety of other areas, such as commercial, asbestos exposure, personal injury, maritime law, medical malpractice and product liability.
In addition to Petriello, CBRE’s Ben Friedland, an executive vice president, brokerage services, and Sam Seiler, vice president, brokerage, acted on behalf of Lanier.
Cushman & Wakefield’s Harry Blair, senior director, and Sean Kearns, director, handled the lease for Pearlmark.
The Lanier Law Firm offices at 126 E. 56th Street, top left. Top right is the reception area, at left is the 7th floor office of Mark Lanier, founder of the firm. At bottom is artwork by U2 frontman Bono in the 6th floor lobby.
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