Duval & Stachenfeld LLP Relocates NYC Headquarters to 555 Madison Avenue
Law Firm Signs 50,057-Sq-Ft Lease on Contiguous Floors
New York, NY (August 3, 2011)
Manhattan-based Duval & Stachenfeld, LLP, a leading national boutique law firm with a second office in Los Angeles, will relocate its New York City headquarters to 555 Madison Avenue in April 2013.
The firm, which offers a range of practice areas, has signed a 50,057-square-foot, 14-year lease for the entire sixth and seventh floors of the 448,352-square-foot, 32-story building located at East 56th Street owned by Rodney Corporation.
Studley’s Paul Revson, executive managing director, with Zev Holzman, managing director, and Zach Reiner, associate, represented Duval & Stachenfeld in the long-term transaction, a forward commitment for the firm, which is currently subleasing office space at 101 Park Avenue.
“Because of Duval’s agreement to relocate to 555 Madison approximately two years from now, we were able to negotiate a favorable financial package, including a healthy work letter as well as a significant period of free rent,” said Mr. Revson.
“The deal was propitious for the landlord who now has secured in advance a signed lease from a credit-worthy law firm for 14 years, and equally beneficial for Duval, which will be moving to prestigious Midtown headquarters a year and nine months from now based on today’s rental rates,” said Mr. Holzman, who noted that the space was formerly occupied by Sony, but now belongs to Tiffany, which vacated when it relocated its new Downtown headquarters.
Duval will be joining other law firm tenants at the building including attorneys Weil Gothshal & Manges and Rivkin Radler LLP. Other tenants include Dreyfus Foundation and ME Zuckerman.
Rodney Corporation was represented by Cushman and Wakefield’s Robert Baraf and Ethan Silverstein. Eric Menkes, Esq. a partner at Duval & Stachenfeld, represented the law firm, while Andrew Herz, Esq. and Mary Rocha, Esq. of Patterson Belknap acted on behalf of the landlord.
Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley, a partnership with Paris-based AOS, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. Information about Studley is available at www.studley.com.
About Duval Stachenfeld LLP
Established in 1997, and currently employing approximately 55 attorneys, Duval Stachenfeld LLP’s practice areas include real estate, litigation, corporate, bankruptcy and business reorganizations, distressed real estate, structured real estate dispute resolution, structured finance strategies, environmental, tax exempt organizations, security systems, and in-house counsel and CFO support services. www.dsllp.com