According to the RFEI the state is prepared to allocate up to $6 million in grants from the State and Municipal Facilities Program in connection with the redevelopment of the property.

Even well-located shopping centers have suffered from the internet-driven changes in the world of retail, but that has also opened up opportunities for new owners.  

"Our goal is to bring the building up to a trophy standard that reflects the prestige of the MPAA as an organization and appeals to a wide range of leading tenants."

McKool Smith's New York City offices are currently housed on the 47th floor at One Bryant Park where it occupies approximately 33,000 square feet and employs 48 attorneys.