NEW YORK CITY-Raymond & Feldman renewed its 24,000-sf lease at 110 East 59th St. The general practice firm, which specializes in providing office suites and related services to the legal and business community, will continue to occupy the entire 23rd and 29th floors of the class A, Midtown Manhattan property. The firm has called the site home for two decades.

The CB Richard Ellis team of Adam Foster and Melissa Bazar negotiated the long-term lease renewal on behalf of Raymond & Feldman, while Peter Resnick represented the building owner, Jack Resnick & Sons, in the negotiations. The renewal price was not disclosed.

Foster says the firm investigated several alternatives before choosing to remain in the 37-story tower. “This deal enabled Raymond & Feldman to avoid the capital-intensive and disruptive process of relocating to new premises, while the landlord was able to perpetuate its cash flow from these floors in light of a large block of space being vacated by the building’s anchor tenant, Bloomberg LP, late next year,” adds Foster.

In addition to Raymond & Feldman, other tenants at the property are Bloomberg LP, Clarins Group USA and the Olnick Organization. Retail tenants include the New York Public Library and LA Gourmet.

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