Metropolitan arranges 70,000 s/f lease expansion with Latham & Watkins

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.