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NEW YORK CITY-International law firm Latham & Watkins is growing its Midtown presence, with an expansion of its space at the Lipstick Building. The firm has re-upped at the iconic tower at 885 Third Ave. and expanded by some 70,000 sf, bringing its total space there to roughly 400,000 sf stretched over four floors.

Ownership, Metropolitan Real Estate Investments; broker CB Richard Ellis; and tenant were all mum on the subject of deal specifics. But sources familiar with the deal put the estimated rent at roughly $100 a foot stretched out over “10-plus years.”

Metropolitan made news in the depths of the summer when it purchased the building as a part of a joint venture for roughly $648.5 million, as GlobeSt.com reported at the time. Tishman Speyer was the seller. In the new lease deal, Brian Gell and Laurence Brody of CBRE did the heavy lifting for Metropolitan while Scott Gamber of the same shop spoke for the law firm.

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