The CB Richard Ellis team of Adam Foster and Melissa Bazarnegotiated the long-term lease renewal on behalf of Raymond &Feldman, while Peter Resnick represented the building owner, JackResnick & Sons, in the negotiations. The renewal price was notdisclosed.

Foster says the firm investigated several alternatives beforechoosing to remain in the 37-story tower. "This deal enabledRaymond & Feldman to avoid the capital-intensive and disruptiveprocess of relocating to new premises, while the landlord was ableto perpetuate its cash flow from these floors in light of a largeblock 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 theproperty are Bloomberg LP, Clarins Group USA and the OlnickOrganization. Retail tenants include the New York Public Libraryand LA Gourmet.