National law firm Polsinelli is moving its New York offices to a new 40,000 s/f space at 600 Third Avenue.
Polsinelli was represented in the 10-year lease by Tom Tunnicliff and Scott Shelbourne, of Cushman & Wakefield Chicago, with local representation by John Picco of Cushman & Wakefield’s New York office.
Chief Operating Officer Jeffrey C. Schwarz lead Polsinelli’s internal team, supported by real estate attorneys John Healy and Aaron Kroll. David C. Berkey brokered the deal for L&L Holding Company.
600 Third Avenue is a Class A commercial office owned by Third Avenue Tower Owner, LLC, a partnership that includes Blackrock Financial and L&L Holding Company, LLC.
Polsinelli has leased 40,000 s/f spread across the top three floors of the 42-story building, which features recently renovated common areas and 360 degree views.
With the new space, which can accommodate 60 lawyers, the firm, currently located at 900 Third Avenue, is doubling its square footage and tripling the number of lawyer offices.
Polsinelli has over 750 attorneys in 18 offices around the country. Since 2014, the firm has added 103 attorneys nationally and six in New York.
The compamny was recently ranked the fastest-growing law firm in America and among the top 100 law firms in the country by The American Lawyer.
Polsinelli’s New York-based clients include Extell Development, Prime Finance, Kamber Management, Barclay’s, Centennial Bank, and People’s United Bank.
Recently, the firm represented Prime Finance and its affiliated entities as issuer and loan seller in a securitization of commercial mortgage floating rate bridge loans originated by Prime with an aggregate original principal balance of approximately $625 Million.
Polsinelli also recently partnered with Robert F. Liner of Stark, Amron & Liner to represent Kamber Management and Affiliates in the completion of a trifecta of major transactions including the purchase and financing in Tower 45, the sale of leasehold interest in 1407 Broadway and the sale of 20 W. 33rd.
“It’s an exciting time for the firm,” said Dan Flanigan, the New York Office Managing Partner and Chair of Polsinelli’s Department of Real Estate & Financial Services.
“We started out in New York in 2003. I called it a ‘trade mission’ back then. We focused on our core strengths of real estate, real estate finance, and related litigation and bankruptcy.
“We decided to accelerate in 2012, and since then, we have almost tripled the number of our attorneys in New York. We felt our continuous expansion here demanded we secure space for 60 lawyers with options on additional contiguous space in the building for many more than that.”
HOK designed the space for Polsinelli with “ generous circulation spaces in communal areas, a large work café and a strategic use of glass.”
Source: Real Estate Weekly