While the Empire State Building has been trimming its roster of tenants of late, it will be adding to that list the New York City law firm Clifton Budd & DeMaria. According to the New York Observer, the firm has inked a 10.5-year, 15,072-square-foot lease on the 61st floor of New York’s most iconic office building. The firm will move from its current location at 420 Lexington Avenue in the second quarter of 2013.
Clifton Budd & DeMaria paid $55 per square foot, a spokesperson for building supervisor Malkin Holdings told the Observer. As The Real Deal previously reported, the average office asking rent in Midtown is $64.46 in October 2012.
William Fressle and Franklin Speyer of Cushman & Wakefield represented the tenant in the deal. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord — Malkin Holdings.