Marketplace: Baker & McKenzie
November 16, 2011
By: Monica Paquette

Baker & McKenzie, one of the world's largest law firms, has signed a 15-year lease for 105,803 square feet at 452 Fifth Ave., between East 39 and East 40 streets. The firm will be leaving 1114 Avenue of the Americas, the Grace Building, about two blocks away...

...Baker & McKenzie's lease is reportedly due to expire at the Grace Building, but the firm declined to discuss the circumstances of the move. The asking rate for the tower floors at 452 Fifth Ave. is about $80 per square foot, according to Crain's New York Business. The law firm will have seven consecutive floors, including entire floors 15 through 20, and a portion of the 14th floor...

...Mitchell S. Steir, chairman and chief executive officer at Studley Inc., along with John A. Mambrino, executive managing director, and David J. Goldstein and Matthew Barlow, executive vice presidents, acted on behalf of the tenant. In addition, Nancy A. Pacher, president and chief operating officer at U.S. Equities Realty in Chicago, served the tenant... 

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