Mintz, Levin takes 101K SF at SL Green’s 919 Third Avenue

Law firm moving from 666 Third Avenue

New York /
Aug.August 16, 2021 04:45 PM
Mintz, Levin takes 101K SF at SL Green’s 919 Third Avenue

Stephen Gulotta, a Managing Member in NYC and 919 Third Avenue (Google Maps, Mintz)

Office vacancies may be at historic highs in Manhattan, but some companies are still investing big, despite the uncertain future of in-person working.

Law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo recently inked a deal to move its New York City headquarters. The company will be moving from 666 Third Avenue to SL Green’s 919 Third Avenue in Midtown Manhattan, according to the New York Post.

The 20-year-lease covers three floors and part of the concourse of the building. The lease is for 101,394 square feet — roughly what the firm has now, but with a less optimal layout — and the asking rent was $80 per square foot.

Other tenants of the building at East 55th Streetinclude Bloomberg and Schulte Roth. Executives from the law firm noted that the floor design of the new office will allow the company to hire more attorneys.

Many offices were expecting to bring employees back in-person shortly after Labor Day. The resurgence of Covid has delayed numerous plans, though, casting the future of in-person working into further doubt.

Nevertheless, there are signs of life in the New York City office market. Last week, the Chubb Group was revealed to be in negotiations for 250,000 square feet at 550 Madison Avenue, with the insurance firm possibly becoming the first tenant there following a $300 million renovation.

The office availability rate as of July in Manhattan was 17.1 percent, holding steady from the previous month. The average asking rent was $72.72 per square foot, the lowest mark since 2017.

[NYP] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
    SL Green puts Daily News building up for sale
    SL Green puts Daily News building up for sale
    SL Green snags private-equity firm at One Vanderbilt
    SL Green snags private-equity firm at One Vanderbilt
    SL Green snags private-equity firm at One Vanderbilt
    SL Green’s locks in big bank lease at Hudson Yards redevelopment site
    SL Green’s locks in big bank lease at
    Hudson Yards redevelopment site
    SL Green’s locks in big bank lease at
    Hudson Yards redevelopment site
    The Centre at Purchase at 1, 2, 3, 4 Manhattanville Road with George Comfort & Sons CEO Peter Duncan (George Comfort & Sons)
    Westchester office park owned by George Comfort & Sons slated for auction
    Westchester office park owned by George Comfort & Sons slated for auction
    Attorney General Letitia James and A&E Real Estate CEO James Patchett (Getty, iStock)
    A&E pays just $510K in lead-paint settlement
    A&E pays just $510K in lead-paint settlement
    Seeding from recapitalization of 25 health care properties
    KKR, Cornerstone in $1B JV to develop health care facilities
    KKR, Cornerstone in $1B JV to develop health care facilities
    The Broadway location of Halloween Adventure (Facebook via New York Costumes / Halloween Adventure)
    Halloween Adventure to vacate East Village home as retail condo hits market
    Halloween Adventure to vacate East Village home as retail condo hits market
    Bluerock Residential CEO Robert Ramin Kamfar (Owler)
    NY-based multifamily REIT Bluerock explores sale
    NY-based multifamily REIT Bluerock explores sale
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...