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Law firms rush to view Shea & Gould space.

News of law firm Shea & Gould's dissolution resulted in an immediate rush of interest in the firm's offices at 1251 Avenue of the Americas. In fact, more than 40 law firms toured the nearly 250,000 square feet of exquisitely designed and constructed space in less than a week, according to Barry Gosin, CEO of Newmark & Company Real Estate, exclusive leasing agent for the building.

"The Shea & Gould office is, without a doubt, the most outstanding law firm space available in Manhattan today," Gosin said. "Given the location and the quality of the building, and the extravagant, customized build-out of the space, it's only natural that it attract the attention of every law firm in the city."

Recently, a number of law firms have signed leases to take over space left behind by dissolving firms. For example, Mendes & Mount leased 100,000 square feet of Olwine Connelly & Chase's space at 750 Seventh Avenue; and Fulbright Jaworski & Reavis McGrath took over Gaston & Snow's space at 666 Fifth Avenue.

Shea & Gould s space is situated on floors 42 through 46 of 1251 Avenue of the Americas, featuring breathtaking, uninterrupted views from every one of the more than 180 perimeter offices. The layout easily accommodates 270 lawyers and complete support staff.

"Even though Shea & Gould's dissolution is lamentable, it presents an opportunity for the law firm that desires the prestige and convenience this space promises," Gosin said.

The space, which was finished at a cost of more than $100 per square foot, has been occupied by Shea & Gould for just six years.

The four floors, measuring 41,200 square feet, are connected by a secure, interior stairway. Each floor is finished with mahogany work stations, Custom millwork and upholstery, dry-wall ceilings, smoked-glass partitions, custom lighting and lush carpeting.

The conference center, offering a combination of 10 to 15 separate rooms, is adjacent to the reception area on the 46th floor. An expansive law library, complete with a computer room for Nexxus, Lexxus and microfiche retrieval, mahogany carols and book cases is situated on the 45th floor. Other features include a central mail station, kitchens and kitchenettes, and file rooms.

"The law firm that grabs this space will only have to move in and put its name on the door," Gosin said. "The days of building such superior offices are over. Clearly, this represents a rare real estate opportunity."

According to Gosin, the 250,000 square-foot space may be divided, but is expected to attract full-floor users.
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Title Annotation:offices for lease after residing law firm dissolved at 1251 Avenue of the Americas, New York, New York
Publication:Real Estate Weekly
Date:Feb 23, 1994
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