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GREENSPOON MARDER SIGNS SUBLEASE FOR 25K SF AT 590 MADISON AVENUE
NEW YORK – January 30, 2017 – Savills Studley, the leading commercial real estate firm specializing in tenant representation, announced today that it has arranged a seven-year, 25,000 square-foot sublease for national full-service law firm Greenspoon Marder at 590 Madison Avenue, a trophy building in the heart of the prestigious Plaza District at 57th Street. The move is the one of the law firm’s major forays in 2017 within the New York City market.
Greenspoon Marder’s new office space encompasses the entire 18th floor of the building. The sublease commences in the 1st quarter of 2017. It expects to relocate from its 18,000 square-foot space at 1270 Avenue of the Americas in March. The firm’s latest expansion comes during a period of steady and significant growth for the firm throughout the country. Last year, Greenspoon Marder acquired the lawyers and staff of Jacob, Medinger & Finnegan LLP, a boutique New York-based law firm. The firm joined the ranks of Am Law 200 law firms in 2015 and was identified by the American Lawyer in 2016 as one of the fastest growing law firms in the U.S.
Following an extensive search of the entire market, the Savills Studley team successfully secured a fully built-out, furnished turn-key law firm space for the tenant, according to Jeffrey Peck, Executive Managing Director at Savills Studley, who represented the tenant along with a team of Executive Vice President Daniel Horowitz, Senior Managing Director Thomas Capocefalo and Associate Director Adam King. As a result, the full floor fit Greenspoon’s needs “perfectly,” Peck said. “It was our knowledge in the marketplace that kept track of all the law firm mergers and our prowess as a firm that allowed us to uncover this unique situation,” he added.
“Our firm is committed to meet the ongoing needs of our clients. Expanding our capabilities and breadth of practice in the New York market is key to our financial services clients and beyond,” commented Gerald Greenspoon, co-managing director and co-founder of Greenspoon Marder. “This is the appropriate move for Greenspoon Marder,” added Michael Marder, co-managing director and co-founder of Greenspoon Marder. “We are a prominent, national, full-service firm and we are strategically positioned for continued growth in many markets.”
The new sublease continues the longstanding relationship between Greenspoon Marder and Savills Studley. The firm has represented Greenspoon Marder in its real estate decisions across the country, including its 65,000 square-foot lease in downtown Fort Lauderdale, Miami, Las Vegas and Denver, among others.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).