Steptoe & Johnson LLP, one of the world’s leading international law firms, is relocating its New York City office to the Grace Building at 1114 Avenue of the Americas.
The law firm, which is currently spread across three floors at 750 Seventh Avenue, signed a long-term lease to occupy the entire 35th floor of the 49-story building located on the edge of Bryant Park.
International commercial real estate services firm Studley’s Daniel Horowitz, executive managing director, and Jeffrey Peck, senior managing director, represented the tenant in the transaction. The landlord, Brookfield Office Properties was represented in-house by Duncan M. McCuaig, vice president, leasing. Mr. Horowitz previously represented the tenant and negotiated the firm’s first lease in New York City in 2004 at 750 Seventh Avenue.
“The space, building, and location are a perfect fit,” said Mr. Horowitz. “We uncovered a space solution that not only satisfies Steptoe’s desire to accommodate its entire New York practice on one floor, but we also minimized the expected capital to prepare the space for Steptoe’s occupancy.”
“We are looking forward to moving to the Grace Building. Our new space places Steptoe in the heart of mid-town Manhattan, gives our New York office ample room to grow, and lies close to all transportation hubs,” explained Paul Kruse, the firm-wide chief operating officer of Steptoe & Johnson. “On a technical level, we took advantage of the high quality existing build-out on the floor and the full tenant improvement package to customize the layout as well as upgrade the IT, conference facilities, and public areas.”
Mr. Peck added that in addition to being attracted to the location and sweeping views from Bryant Park to Wall Street; Brookfield Office Properties is re-investing in the building by renovating the lobby, public plaza, and adding STK restaurant by the ground floor entrance on 43rd Street.
Steptoe & Johnson is expected to move in the third quarter of 2011. Other tenants of the 1,537,112-square-foot property include Baker & McKenzie LLP, HBO, and Cooley LLP. Robert Epstein of Newman Ferrara LLP represented the tenant while Raymond A. Sanseverino and Joe De Vesta of Loeb & Loeb LLP represented the landlord.
About Steptoe & Johnson.
Steptoe & Johnson LLP is an international law firm widely recognized for vigorous representation of clients before governmental agencies, successful advocacy in complex litigation and arbitration, and creative and practical advice in guiding business transactions. The firm has 500 lawyers in offices in Beijing, Brussels, Century City, Chicago, London, Los Angeles, New York, Phoenix, and Washington. For more information, visit www.steptoe.com.