Law firm eyeing big spread at Rockefeller’s 1271 Sixth

Blank Rome merged with struggling shop last year and consolidated offices at Chrysler Building

TRD New York /
Dec.December 05, 2017 12:20 PM

1271 Sixth Avenue and Rockefeller Group’s Dan Rashin

Philadelphia-based law firm Blank Rome, which last year acquired struggling D.C.-based law shop Dickstein Shapiro, is in advanced talks to lease roughly 130,000 square feet at the Rockefeller Group’s 1271 Sixth Avenue.

The potential deal is still a few months out, but Blank Rome is negotiating to lease three floors at the 2.1 million-square-foot former Time & Life building, sources told The Real Deal. The law firm is also said to be considering Cohen Brothers Realty’s 805 Third Avenue, but leaning toward the Rockefeller Group tower.

A representative for Blank Rome couldn’t be immediately reached, and a spokesperson for the Rockefeller Group declined to comment.

If the deal goes through, it would be another in a flurry of recent activity at the 48-story building, which is undergoing a $600 million redevelopment that will replace the 1959 tower’s façade with a new curtain wall.

Asking rents in the building are in the $70s to $80s per square foot in the base and mid-rise floors.

Last month, Mizuho Americas, the stateside arm of Japanese bank Mizuho Financial Group, inked a deal for 270,000 square feet in the building, the New York Post reported, which was on top of the 141,000 square feet it leased at the tower earlier this year.

Major League Baseball inked one of 2016’s biggest leases when it signed a deal for 400,000 square feet in the building – the first major lease following the tower’s redevelopment plans – though at some point it gave one full floor spanning some 75,000 square feet back to the landlord, as TRD originally reported.

Blank Rome’s New York City offices are in Tishman Speyer’s Chrysler Building at 405 Lexington Avenue. The firm, founded in 1946, was up until the new millennium considered primarily a regional Philadelphia firm, but over the years has expanded to become a top-tier national firm with an office in China as well.

Early last year, the company merged with Washington, D.C.-based Dickstein Shapiro, which had a New York office at Paramount Group’s 1633 Broadway. Dickstein Shapiro’s 13 New York City attorneys reportedly moved into the Chrysler Building following the merger.


Related Articles

arrow_forward_ios
As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

Neir’s Tavern (Credit: Google Maps)

City’s oldest bar, of “Goodfellas” fame, gets last-minute lifeline

Neir's Tavern (Credit: Google Maps)

Landlord to bar owner: You don’t have to go home but you can’t stay here

Fosun Property’s Bo Wei, Refinitiv’s David Craig and 28 Liberty Street (Credit: Getty Images, Google Maps)

Fintech firm signs on for massive lease at 28 Liberty

From left: 333 Johnson Avenue, 250 Livingston Street and 12 MetroTech Center (Credit: Google Maps)

City agencies dominated Brooklyn’s biggest office leases of 2019

Savannah's Christopher Schlank with One Court Square and Tishman Speyer's Rob Speyer with the JACX at 28-10 Queens Plaza South (Credit: Getty Images, One Court Square and CityRealty)

LIC dominated Queens office leases in 2019

arrow_forward_ios
Loading...