NEW YORK CITY-Law firm Gibson Dunn & Crutcher, which reportedly had planned to relocate to a planned Boston Properties office tower that has since been scrapped, has renewed and expanded its space at 200 Park Ave. The firm will occupy approximately 262,000 square feet through October 2031, up from its current 192,000 square feet.
In a statement, Rob Speyer, president and co-CEO of landlord Tishman Speyer Properties, counts himself “pleased that Gibson Dunn has chosen to remain and expand at 200 Park, clearly recognizing the building as a premier location.” Steven Wechsler, senior managing director of Tishman Speyer, told the New York Post that two tenants have agreed to relocate within the landmark 58-story office tower to allow Gibson Dunn to expand, adding that the law firm has “other expansion options down the road.” A Tishman Speyer spokesman declined to comment beyond confirming the Post report.
As GlobeSt.com reported in February, Gibson Dunn and another law firm, Proskauer Rose, had reportedly committed to space at Boston Properties’ planned one-million-square-foot office and retail project at 250 W. 55th St., with Proskauer reportedly agreeing to 500,000 square feet there. However, the project was suspended in February after the REIT announced that a major law firm tenant, which it did not identify, said it was “unable to proceed” on the lease terms.
Terms were not disclosed; asking rents within 200 Park, which was built in 1963 as the Pan Am Building, range from $70 to $90 per square foot. CB Richard Ellis vice chairman Lewis Miller and SVP Andrew Sussman, who coincidentally also have their offices within the three-million-square-foot 200 Park, represented Gibson Dunn in lease negotiations. Tishman Speyer’s in-house representation came from senior director Megan Sheehan and managing director Calvin Farley.