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Law firm takes 223,597 sf at Ave of Americas Plaza.

Law firm takes 223,597 sf at Ave of Americas Plaza

The Macklowe Organization has leased over 96 percent of its Avenue of the Americas Plaza located at 125 West 55th Street with the signing of the law firm of LeBoeuf Lamb Leiby & MacRae who leased 223,597 square feet in a transaction valued in excess of $200 million.

The building, which was completed and ready for leasing little more than 18 months ago, has welcomed some of New York's finest firms including Katz Communications, Kredietbank, Air France, Banestado and the National Bank of Canada. "While we recognized the market would provide a variety of obstacles to our leasing Avenue of the Americas Plaza, we felt that the building's superior design and location along with our dedication to top quality management would attract the sophisticated tenant we were after," commented Harry Macklowe, president of Harry Macklowe Real Estate Co. Inc., the real estate arm of The Macklowe Organization.

The latest lease signed by LeBoeuf, Lamb, Leiby and MacRae was the largest law firm lease this year in Manhattan - 223,597 square feet, the second largest thus far in 1991 after Sony's commitment to 620,000 square feet at the former AT&T Building. LeBouef is expanding from 132,000 square feet at 520 Madison Avenue and 8,000 square feet at 10 East 53rd Street.

Donald A. DiRenzo, Sr. and Mitchell J. Barnett of Cushman & Wakefield represented LeBoeuf in negotiations while David Burris and Kent M. Swig represented the landlord, Harry Macklowe Real Estate Co. Inc.

LeBoeuf, Lamb, Leiby & MacRae, one of the 25 largest law firms in the United States with over 460 attorneys, is headquartered in New York, with 12 U.S. offices and three overseas offices located in Brussels, London and Moscow.

The Macklowe Organization, which has developed over $2 billion worth of properties during the past 10 years, is a vertically integrated firm made up of seven operating companies. The Macklowe Organization is also an owner, developer and manager of some of New York's most prestigious residential and commercial properties including: Metropolitan Tower, a 78-story residential and commercial tower at 146 West 57th Street; the 550,000 square foot Avenue of the Americas Plaza at 125 West 55th Street; Two Grand Central Tower, a 563,000 square foot office tower; the NYNEX Building, a 360,000 square foot office building; and 818 West 7th Street, a 400,000 square foot office building located in downtown Los Angeles. Additionally, The Macklowe Organization's hotel division operates the 638-room Hotel Macklowe and Macklowe Conference Center in Times Square.

PHOTO : Eugene M. Grant, president, Eugene M. Grant & Co., and treasurer of the Realty Foundation has been selected to be the guest of honor at the annual Golden Apple Ball. The event will take place on April 8, 1992, at the Waldorf Astoria Hotel. The Realty Foundation is the charity of the industry. It makes grants to realtors in financial distress, and awards scholarships to the children of realtors, as well as their employees.
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:LeBoeuf Lamb Leiby & MacRae
Publication:Real Estate Weekly
Date:Nov 20, 1991
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