1185 6th Avenue (NYLJ/Rick Kopstein)
Murphy & McGonigle has taken up residence at 1185 Avenue of the Americas, between 46th and 47th streets.
The 41-lawyer securities litigation firm—about 15 of whom are in New York—has a 10-year lease with SL Green Realty Corp. for 27,231 square feet, the entire 21st floor of the 42-story, more than 1-million-square-foot class-A tower.
Murphy & McGonigle, which moved into the new space at the end of March, consolidated its offices from 60 W. 42nd St. and 55 Broadway, a combined total of about 10,700 square feet. In September 2012, the firm acquired Krebsbach & Snyder, which was based at the Broadway building in lower Manhattan.
The firm ran out of space to expand at its existing locations and opted to consolidate offices in Midtown, said Theodore ‘Ted’ Krebsbach, managing partner of Murphy & McGonigle’s New York City office.
The firm has experienced “strong across-the-board demand from our financial services clients, particularly our securities trading and markets practice, where high frequency trading issues have come to the fore,” Krebsbach said.
Joan Thompson, vice president and associate leasing counsel at SL Green, was in-house counsel on the lease.
J. Thomas O’Brien, a shareholder at Spotts Fain in Richmond, Va., and head of the corporate transaction group, represented Murphy & McGonigle.
The asking rates at 1185 Avenue of the Americas are in the $60s per square foot, according to a Crain’s New York Business report.
Established in 2010, Murphy & McGonigle, simultaneously opened offices in New York City, Washington, D.C., and Glen Allen, Va. The firm began with more than two dozen attorneys and has grown to a total of 41 attorneys.
The law firm handles matters related to the U.S. Securities and Exchange Commission, electronic trading technology and investment regulatory, as well as rules compliance pertaining to the Dodd-Frank Act. Other practice areas include audit and accounting, white-collar defense and discovery counseling services.
King & Spalding; Patton Boggs; Zuckerman Spaeder; and Levi, Lubarsky & Feigenbaum are also tenants of 1185 Avenue of the Americas.
As of December, SL Green owned interests in 92 buildings in Manhattan, totaling 44.4 million square feet, including 27.8 million square feet of commercial buildings, according to its website. In addition, the real estate group has investments in the New York metro area and southern California.
SL Green’s lease was handled internally by executive vice president Howard Tenenbaum, along with Gary Rosen, a senior managing director.
Daniel Levine, a senior managing director at Newmark Grubb Knight Frank (NGKF), handled the lease for the law firm along with David Falk, president New York tristate region and principal.
Nordstrom Inc. has signed a seven-year lease for 13,000 square feet of office and showroom space at 205 W. 39th St., at Seventh Avenue. By June, the Seattle-based upscale fashion retailer expects to move the short distance from its current offices at 264 W. 40th St.
The W. 39th Street space covers the entire 17th floor of the 21-story, 220,000-square-foot building.
Public records show the owner as 205 West 39th Street Company, whose general partner is Daniel Mintz, an attorney. EVO Real Estate Group, formerly Winoker Realty, handles the leasing and management of the property.
“Nordstrom was attracted to the convenient Garment District location, as well as the solid roster of tenants in the building,” EVO broker Mitchell Cooperstock, said in a statement. “The flexible floor plan worked well for Nordstrom’s layout.”
Neil Botwinoff, a partner at Tannenbaum Helpern Syracuse & Hirschtritt, represented the landlord. Mintz also internally handled the lease for his building.
Nordstrom was represented by in-house senior counsel Alice Truong in Seattle.
The asking rate at 205 W. 39th St. is reportedly about $45 per square foot.
Nordstrom, which says it serves online customers in 44 countries, operates 265 stores in 36 states: 117 full-line stores and 148 Nordstrom Racks. There are 10 stores in the New York metro area, including the upcoming grand openings of Nordstrom Rack Fulton Street in Brooklyn and Nordstrom Rack Manhasset Center on Long Island slated for May 1, according to retailer’s website.
In 2011, Nordstrom acquired HauteLook, a popular online retailer started in Southern California.
Last year, Nordstrom announced plans to open a New York City flagship store in a new tower on W. 57th St. that is being developed by Gary Barnett and Extell Development (NYLJ, Sept. 18, 2013).
In addition to Cooperstock, EVO broker Evan Lieberman handled the lease for the landlord.
Michael Leifer, vice president of Millennium Realty Group, acted on behalf of Nordstrom.
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