Savills Studley announces that Gallo Vitucci Klar LLP (GVK) has signed a long-term lease for 12,000 square feet at 90 Broad Street for its New York offices. The civil litigation defense firm currently occupies 19,000 square feet across the third floor in the building and will restructure its current lease to occupy a portion of the 12th floor while relocating a portion of its operations to 100 Crossways Park Drive West, Woodbury, New York in Long Island. Asking rents were $48 per square foot.
Savills Studley Executive Managing Director Marc Shapses, Senior Managing Director Roi Shleifer and Managing Director Oliver Petrovic represented the tenant, GVK, in the transaction. The landlord, Princeton International, was represented by Scott Cahaly of JLL. Doug Furer of Mariner Real Estate Services, LLC co-brokered the Long Island transaction alongside Savills.
According to Shapses, the law firm began evaluating its real estate options nearly four years ago, which enabled the firm to evaluate a number of opportunities across the market.
“By beginning the process early we were able to secure the future for GVK and be strategic about its space use and costs,” Shapses said.
This is a great transaction for GVK. It simultaneously allows us to continue our strong growth while also reducing our expense” said Howard Klar, Managing Partner of Gallo Vitucci Klar.
Gallo Vitucci Klar LLP is a leading law firm to corporations and the insurance industry. GVK’s 60 lawyers in New York and New Jersey provide its clients the highest quality legal representation and counseling.