Cushman Realty Corp. Closes 270,000 SF Transaction For Milbank, Tweed, Hadley & McCloy; Transaction Represents Largest Law Firm Lease Completed in New York.NEW YORK--(BUSINESS WIRE)--July 30, 1998--Cushman Realty Corp., a national real estate brokerage firm, has completed a 15-year, 270,000 SF lease extension and renegotiation on behalf of the international law firm of Milbank, Tweed, Hadley & McCloy, which will now occupy eight floors at One Chase Manhattan Plaza One Chase Manhattan Plaza is a banking skyscraper located in the downtown Manhattan Financial District of New York City. Construction on the building was completed in 1961. in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . This transaction is the largest law firm lease transaction completed in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of for 1998, and likely the largest law firm lease in the United States this year. John C. Cushman III John C. Cushman, III ia an American real estate developer. He is chairman of Cushman & Wakefield, a global real estate services firm. Cushman joined Cushman & Wakefield Inc. in New York, NY in 1963 and then opened an office in Los Angeles in 1967. , president and chief executive officer of Cushman Realty; Dale F. Schlather, vice president and senior director in Cushman Realty's New York office; and Paul M. Aschkenasy, senior director in the New York office, represented the tenant. The landlord of the building, Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. , represented itself. "Milbank, Tweed, Hadley & McCloy chose to remain at One Chase Manhattan Plaza because of the building's high quality, exceptional views, floorplates and the building's excellent ownership,"said Cushman. "Milbank explored numerous alternatives including relocating to midtown, but ultimately chose to continue their 130-year commitment to downtown into the next millennium." Milbank, Tweed, Hadley & McCloy, one of the oldest and most prestigious law firms in the world, represents general corporate as well as private clients and specializes in the areas of banking, mergers and acquisitions, public utilities, tax, bankruptcy, trusts and estates, structured finance, real estate, project finance, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , leasing, intellectual property/technology, financial restructuring and capital markets. In addition to the firm's New York office, Milbank, Tweed, Hadley & McCloy maintains offices in Los Angeles; Washington, D.C.; London; Moscow; Tokyo; Hong Kong; and Singapore. Cushman Realty is a nationally recognized real estate brokerage firm specializing in office leasing, sales and consulting. Founded in 1978, the firm maintains offices in New York City, downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or , West Los Angeles
The New York office is located at 70 E. 55th St., 15th floor, New York, N.Y. 10022; phone: 212/308-3200.
CONTACT: The Hoyt Organization
Leeza Hoyt/Ann O'Brien, 310/373-0103
310/378-9805 (fax)
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