Two law firms choose Equity's 1540 B'way for headquarters.

Two prominent law firms will establish their respective New York City headquarters at 1540 Broadway, the 44-story tower situated in Times Square at the intersection of West 44th Street in the heart of Manhattan's bustling Times Square.

Hodgson Russ LLP, with offices in New York, Albany, Buffalo, New York and other locations, and Birmingham, Alabama-based Whatley Drake & Kallas, are the first two new tenants to sign leases at 1540 Broadway since Equity Office's much-publicized acquisition of the 1.1-million-square-foot tower in July 2006.

National real estate services firm Studley represented both law firm tenants in the separate 10-year transactions. Daniel Horowitz, executive managing director and Jon Rosenblatt, assistant director, represented Hodgson Russ LLP in arranging its lease of the entire 24th floor, while Erik Schmall, corporate managing director, with Scott Weiss, associate, represented Whatley Drake & Kallas in negotiating its 18,380 s/f lease for the entire 37th floor. Leasing director Robert Fink represented Equity Office in the transactions.

Hodgson Russ LLP, which will vacate its former premises at 230 Park to provide for current and future growth, will continue to operate an office at 60 E. 42nd Street. The law firm is one of the nation's oldest. Among those who have practiced at Hodgson Russ are two past US Presidents and a past President of the World Bank.

According to Horowitz, "Hodgson chose 1540 for its institutional quality and ownership. Another driving factor was the ability to benefit from an existing installation which, along with the landlord's concessions, is expected to cover most if not all of the renovation costs."

"One of the reasons Whatley Drake & Kallas opted for 1540 was because of Equity Office, who was tremendously cooperative in ensuring this transaction moved and closed swiftly," noted Schmall.

"Plus the partners were attracted by the building's amazing views, the vibrancy of the Times Square location and the space's generously-sized conference rooms."

"We are pleased to welcome two prestigious law firms to our tenant roster; the first two deals we've executed as the new landlord," said Michael Berman, vice president-leasing for Equity Office's New York Region.

"Since we acquired the building four months ago, we've been aggressively repositioning the asset to cater to the legal, financial and professional services industries. Because of the building's stellar location, Class A amenities and staggering views, 1540 Broadway is an ideal location that offers superior building quality and design, and efficient floor plates."

Asking rents at 1540 Broadway range between $70-$90 per square foot.

Terrence Gilbride, Esq. acted-in house for Hodgson Russ LLP, Herbert E. Fisher, Esq. acted inhouse on behalf of Whatley Drake & Kallas, while Edward Chupack Esq. acted-in house for Equity Office Properties.