Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-International law firm King & Spalding LLP signed a lease for 26,500 sf on the entire 32nd floor of the 42-story tower at 1185 Avenue of the Americas. This lease completes the firm’s expansion in the building, which has taken place over the course of the past five years. King & Spalding is now the legitimate anchor tenant at 1185, occupying a total of 132,500 sf on floors 30 through 35. A lease price was unavailable; however rent on other floors in the property goes for $59 per sf.

Insignia/ESG’s Richard Bernstein and Susan Kahaner arranged the ten-year deal, co-terminus with the lease expirations on the firm’s other floors, while Ronnie Goldberger and Scott Klau of Newmark & Co. Real Estate Inc. represented the landlord, 1185 LLP, an investment group led by Joe Chetrit.

“This is a great coup for King & Spalding, something the Firm has been trying to achieve since it moved into the building six years ago,” says Bernstein.

Kahaner adds, “This is another example of the trend for law firms to expand at a time when most industries are contracting.”

According to Mark Zvonkovic, managing partner of King & Spalding’s New York office, This configuration (having offices over six contiguous floors and connected by private stairways) will have a substantial impact on our efficiency and productivity.” The firm plans to occupy the 32nd floor in stages starting later this summer and finishing in 2007.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.