Studley teams work out expansion moves for two firms.

Town Sports International Holdings, Inc., a leading owner and operator of fitness clubs in the Northeast and Mid-Atlantic region, announced it is moving its corporate headquarters to 5 Penn Plaza, a 24-story office tower owned by Stephen Haymes.

Scheduled for June 2007, the move will provide the fitness operator with approximately 10,000 s/f more than it occupied in its former headquarters at 888 Seventh Avenue.

A team from Studley represented TSI in the transaction. David Goldstein, executive vice president; Greg Taubin, senior managing director; Robert Graubard, executive vice president; and Jason Perla, assistant director, negotiated the 27,877 s/f 10-year lease at favorable rates. "The excellent location of 5 Penn Plaza, atop most of the City's major subway lines and across the street from Penn Station, as well as its large floor plates, expansion capabilities, and economics, all figured in Town Sports' decision to move from Midtown to Midtown South," noted Goldstein.

"Floor plates of this size are becoming a rare commodity especially in our City distinguished by such a remarkably low vacancy rate," added Taubin, "and 5 Penn Plaza's floor plate provides the tenant not only with a full floor identity, but enables its employees to work more efficiently than if they were on separate floors." Five Penn Plaza, a 608,000 s/f property built in 1916 is home to a variety of tenants including Thomas Publishing, Visiting Nurse Service, Sirius Satellite, and Amnesty International of USA, Inc., among others.

Peter Turchin and Zachary Freeman of CBRE represented the landlord, Stephen Haymes.

Linda Donovan, Esq. of Donovan & Giannuzzi, LLP acted for Town Sports International, while Neil A. Nowick, Esq. of Dahan & Nowick LLP represented the landlord.

Studley also repped law firm Sichenzia ROss Friedman Ference LLP is its move. After having occupied Midtown offices at 1065 Avenue of the Americas for five years, the law firm has relocated to 23,750 s/f on the entire 32nd floor of 61 Broadway.

The move represents a substantial expansion from the firm's former 15,000 s/f Midtown office.

Studley's Howard Simson, senior managing director, together with Jarod Stern, associate director, represented Sichenzia Ross in the 10-year deal, which was prompted by the firm's lease expiration as well as the need for additional space, preferably built-out to a high standard.

On February 1, Sichenzia Ross took possession of its new offices formerly occupied by Healy & Baillie, a law firm that moved to the Chrysler Building as a result of its merger with Blank & Rome.

Built in 1916, 61 Broadway is a 33-story 650,000 s/f pre-war office building occupied by several other law firms in addition to tenants Kaplan, American Thoracic Society and Verizon among others.

Daniel Blanco and Jill Burrowes negotiated the deal in-house for landlord Broad Street Development. David Lachtman Esq. represented the landlord in-house and Richard Berney Esq. of Cozen O'Conner represented the tenant.