Financial details of the lease were unavailable, but space in the 42-story site is advertised for $52 to $59 per sf. In July 2003, the firm signed on for 26,500 sf on the 32nd floor.
CB Richard Ellis' Susan Kahaner and Armando Nunez, together with former CBRE broker Richard Bernstein, arranged the expansion on floors 30 through 37. The firm has space over six contiguous floors connected by private stairways. In addition, the team re-cast the firm's lease. Set to expire in 2013, it was extended until 2025. Philip Waterman and Robert Fink acted in-house for Reckson.
"It's noteworthy that a law firm of this size and stature, though headquartered in Atlanta, is growing so rapidly in New York," says Kahaner, adding that King & Spalding received "favorable terms at their existing offices, eliminating the need to move to another location."
Located between West 46th and 47th streets, other tenants in the tower, built in 1972, include Amerada Hess, Bank of America, American Express Tax and Business Services and Cooper & Dunham. King & Spalding's New York office, founded in 1992, now employs more than 140 attorneys practicing in a broad range of areas including business litigation, corporate finance, energy, financial restructuring, private equity, mergers and acquisitions, tax and real estate, among many others. The international firm has more than 700 lawyers in Atlanta, Houston, London, New York and Washington, DC.
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