Savills Studley Negotiates Early Lease Restructure for Gallo Vitucci Klar LLP
Civil Litigation Defense Firm Renegotiates Lease at 90 Broad Street and Leases 7,500 Square Feet in Long Island
New York, NY (May 13, 2016)  

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.

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

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