Metropolitan Real Estate Investors, LLC, the national investment company that purchased the Lipstick Building at 885 Third Ave. in July, has signed an agreement expanding the building's largest tenant, Latham & Watkins.
The Lipstick Building, instantly recognizable with its distinctive elliptical shape, was designed by world-renowned architect Philip Johnson.
Under terms of the lease, Latham & Watkins has expanded its presence in the building by 70,000 s/f, leasing floors 14, 15, 16 and 20. This brings the firm's total occupancy to approximately 400,000 s/f.
"The building's new ownership is very pleased with Latham & Watkins' expansion at 885 Third Ave. and is looking forward to an outstanding, long-term relationship with this prestigious tenant," said Brian Gell of CBRE, who together with his associate, Laurence Briody, represented Metropolitan.
Latham & Watkins was represented by Scott Gamber, also of CBRE. Terms of the transaction were not disclosed. Tags: