Warshaw Burstein Leases 40,000 SF at 575 Lexington Ave.
The law firm will occupy the full seventh floor at the Manhattan Plaza District tower.
NEW YORK CITY—Warshaw Burstein has signed a 15-year, 40,383 square-foot lease, to occupy the entire seventh floor at 575 Lexington Ave. in Manhattan’s Plaza District. In the summer of 2019, the law firm will relocate from 555 Fifth Ave., where it has been for more than 50 years.
Warshaw Burstein is a full-service firm which represents businesses, financial institutions, families and individuals in litigation and transactional matters. The space it will rent on the seventh floor is currently occupied by the law firm, Boies Schiller Flexner, which was the first tenant to sign a lease at 55 Hudson Yards.
Later this year, Boise Schiller will be vacating that floor, as well as the 35,865 square-foot eighth floor and 29,770 square-foot 12th floor, which the owners, a joint venture of George Comfort & Sons, Angelo Gordon & Co. and Normandy Real Estate Partners, are currently marketing to lease.
Warshaw Burstein was drawn to 575 Lexington Ave.’s Midtown location, the improvements to the tower, and the existing installation on the seventh floor, according to Peter S. Duncan, president and CEO of George Comfort & Sons.
Frederick R. Cummings, Jr., managing partner of Warshaw Burstein says the firm was seeking space that would be designed to suit their legal professionals, and for the firm to continue the growth it has pursued for the past 10 years. “The layout of 575 Lexington’s seventh floor, as well as the hands-on approach of ownership to provide a high-quality environment and leading tenant services, proved to be the perfect fit.” Cummings adds.
The owners recently renovated the building, which was originally constructed in 1958. With renovations of $25.9 million, they redesigned the lobby with leather benches, a large digital screen and wall and ceiling accents; constructed a new entrance; and upgraded the elevators, and HVAC and security systems. A $26.2 million capital plan was budgeted for 2018 alone. In June the building received $415 million in refinancing.
Located in the Plaza District, the 35-story, 745,000 square-foot office tower also provides on-site parking, a health club and childcare.
Warshaw Burstein was represented by Michael Burgio of Cushman & Wakefield. The landlord was represented by David Falk, Ben Shapiro, Kyle Ciminelli and Michael Shenfeld of Newmark Knight Frank.