Among the most active markets in Manhattan, the Downtown area continues to play an important role in the ever-changing commercial real estate marketplace. While many of the best bargains and highest-quality blocks throughout lower Manhattan have been leased, quality space can be had for those with an in-depth market knowledge.
Executive managing director, Marc Shapses of global commercial services firm Studley, managed the recent transaction which leased 39,293 s/f to Lester Schwab Katz & Dwyer, LLP (LSK&D) on the 26th and 27th floors of 100 Wall Street. The building landlord, Savanna, was represented by Scott Cahaly of Jones Lang LaSalle.
For nearly 35 years, LSK&D has occupied the landmark space at 120 Broadway. Having previously leveraged Studley's expertise for two prior lease negotiations, LSK&D again looked to Studley to help evaluate the law firm's space needs.
Shapses, with executive managing director, Joe Messina and assistant director, Oliver Petrovic, worked closely with the law firm to identify key areas of growth that would transform their real estate decisions moving forward. Following Studley's evaluation, LSK&D made the decision to look for new, modern space that would be uniquely designed to accommodate the firm's organic growth throughout the coming decade.
With a world renowned address and the support of a quality landlord, Savanna, the new space at 100 Wall Street offers a complete turn-key installation. "After working with LSK&D for so many years, it was rewarding to deliver a competitively priced space that is a perfect fit for the firm," Shapses said.
Michael E. McDonagh, Esq., partner of LSK&D said, "In addition to being perfectly situated to accommodate our long-term goals, we'll also enjoy bridge and water views from a beautiful, modern office space." McDonagh also noted that the new construction build-out will provide LSK&D with advanced technological capabilities to further support the firm's evolution.
Located between Pine Street and Water Street in historic lower Manhattan, the 29-story building offers over 450,000 s/f of office space. Tags: