Newmark closes on 100,000 SF renewal.

The law firm of Epstein Becker & Green has signed a lease renewal at 250 Park Avenue, where it will expand its current New York headquarters from 75,000 square feet to approximately 100,000 square feet. Epstein Becker & Green will occupy the entire 11th through 14th floors of the 21-story, 500,000-square-foot property.

Moshe Sukenik and Barry Gosin of Newmark advised the tenant, while AEW Capital Management LP, as asset manager, and Colliers ABR, as leasing agent, represented the owner, 250 Park Avenue LLC.

The negotiations for the transaction extended over more than two years. The client had investigated relocation options, but ultimately preferred to remain at 250 Park Avenue. "The efficiency of the floor plate for a law firm and the prestige of the location were the primary factors in Epstein Becker's decision," commented Sukenik.

By waiting until the right moment in the market, and utilizing effective negotiation strategies, Newmark was able to achieve highly favorable lease terms for Epstein Becker. Jeffrey H. Becker, co-founder of the firm, said, "Newmark's extensive experience in the representation of law firm'-s, coupled with its in-depth market knowledge, made it the ideal representative for our firm. We are exceptionally pleased with the successful conclusion of this transaction."