Lawyers move to Madison Ave.

PBS Realty Advisors, LLC announced that New York-based law firm Malapero & Prisco, LLP has signed a 10-year lease agreement at 295 Madison for 14,540 s/f of space.

Malapero & Prisco will relocate its corporate headquarters from 485 Fifth Avenue, following the building's recent purchase to be redeveloped into luxury loft condominiums. John Brod and Laura Pomerantz of PBS Realty Advisors represented Malapero & Prisco in the transaction, and also negotiated a surrender agreement from 485 Fifth Avenue on the law firm's behalf.

Said John Brod, principal at PBS Realty Advisors, "This was a particularly interesting project for us as we worked with both the exiting tenant and the owner of 485 Fifth. We are excited to continue working with Belfonti Capital Partners and The Carlyle Group as we look to secure the right new retail tenants for the building."

PBS Realty Advisors was named the exclusive leasing agent for the 26,000 s/f of available retail space at 485 Fifth Avenue, which overlooks Bryant Park and the main branch of the N.Y. Public Library. Real estate venture capital firm Belfonti Capital Partners and private equity firm The Carlyle Group recently acquired 485 Fifth Avenue to redevelop the building into one of the first luxury properties in the heart of Midtown.