Lawyers relocate to 1350 B'way.
"With much of our firm commuting from outside Manhattan, the location is optimal, with access to Penn Station, Grand Central Station, and many major subway lines.
"Moreover, we have an office in Princeton, New Jersey, making the proximity to transportation another plus," said managing partner Alan Tarter.
TKD was also impressed with the existing design of the space. These and other factors prompted Paul Amrich, senior vice president of CB Richard Ellis, who represented TKD in the lease negotiations, to show the space to the firm. Waterman, who represented the landlord along with Jonathan Fanuzzi of Newmark Knight Frank, views the lease as a sign of things to come.
"Awareness is spreading among brokers and prospective tenants that the building is under new management and about to undergo a $50-million capital improvements program. These developments have significantly heightened the property's appeal to prestigious tenants like TKD."
The building's capital improvements program, scheduled to begin in May, includes upgraded building systems, renovated air-conditioned public corridors, new bathrooms and renovated elevators.
The building is owned by 1350 Broadway Associates L.L.C, a partnership led by Peter L. Malkin.
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|Publication:||Real Estate Weekly|
|Date:||May 16, 2007|
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