Entertainment law firm takes 57K sf at 28 Liberty

Meanwhile, Fosun is rumored to be looking to sell tower for $1.6B

Mike Frankfurt and 28 Liberty Street (Credit: Frankfurt Kurnit Klein & Selz and SOM)
Mike Frankfurt and 28 Liberty Street (Credit: Frankfurt Kurnit Klein & Selz and SOM)

Frankfurt Kurnit Klein and Selz, an entertainment and arts-focused law firm, is relocating to Fosun’s 28 Liberty Street in the Financial District, sources told The Real Deal.

The firm will take 57,000 square feet on the tower’s 35th and 36th floors. Cushman and Wakefield brokers Mitchell Barnett and Barry Zeller represented Frankfurt Kurnit in the deal and Fosun was represented by an in-house leasing executive and a team from JLL.

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Asking rent for the space was in the mid-$60s per square foot. A spokesperson for 28 Liberty leasing team declined to comment. Cushman and Wakefield’s Barnett and Zeller were not immediately available to comment, nor was a representative for Frankfurt Kurnit, which currently leases space at the Feil Organization’s 488 Madison Avenue.

The lease marks Fosun’s second major deal at the tower this month, after signing the London Stock Exchange Group to a 70,000 square foot lease. Information-services firm Wolters Kluwer took 130,000 square feet in February.

The building is now more than 80 percent leased, according to one source, which would make it more attractive to buyers, if recent rumors about Fosun’s intentions are true. Last week, Real Estate Alert reported that China-based Fosun planned to sell the 60-story tower for $1.6 billion, though the firm denied that was true. The landlord acquired 28 Liberty in 2013 for $725 million and began extensive renovations.