Full-Service Law Firm to Occupy Entire Floor at Prestigious Midtown Tower
New York, New York – August 6, 2018 – The ownership of 575 Lexington Avenue announced today that it has signed a new 15-year, 40,383 square-foot lease with Warshaw Burstein, LLP at its class-A office tower in Manhattan’s Plaza District.
With its roots going back to 1927, Warshaw Burstein is a mid-sized law firm with comprehensive experience representing a wide range of businesses, financial institutions, and prominent families and individuals in an array of litigation and transactional matters. The firm will move from 555 Fifth Avenue, its location for more than 50 years, to the entire seventh floor of 575 Lexington in the summer of 2019.
The seventh floor is currently occupied by law firm Boies Schiller Flexner. Later this year, the firm will be vacating that floor, as well as the 35,865-square-foot eighth floor and 29,770-square-foot 12th floor, which ownership is currently marketing for lease.
“We are pleased to welcome Warshaw Burstein, which was drawn to 575 Lexington Avenue’s convenient Midtown location, the thoughtful improvements to the tower, and the existing installation on the seventh floor, which was ideal for the firm’s esteemed professionals,” said Peter S. Duncan, President and CEO of George Comfort & Sons.
“When selecting our next office, it was crucial that we find a space that was designed and situated for our legal professionals to continue their exceptional work as well as providing us room to continue on the growth path that we pursued for the past 10 years. The layout of 575 Lexington’s seventh floor, as well as the hands-on approach of ownership to provide a high-quality environment and leading tenant services, proved to be the perfect fit,” said Frederick R. Cummings, Jr., Managing Partner of Warshaw Burstein.
Warshaw Burstein was represented in the transaction by Michael Burgio of Cushman & Wakefield. The landlord was represented by David Falk, Ben Shapiro, Kyle Ciminelli and Michael Shenfeld of Newmark Knight Frank.
575 Lexington Avenue has recently undergone an expansive series of renovations to reaffirm the tower’s position as a best-in-class Plaza District destination. These improvements included a full redesign of the building’s lobby, with soft leather benches, a large digital screen and stylish wood accenting the walls and ceiling; the construction of a brand new entrance; and upgrades to the elevators, HVAC, and security systems.
A joint venture comprised of George Comfort & Sons, Angelo Gordon & Co. and Normandy Real Estate Partners acquired 575 Lexington Avenue in September 2015. Located in the heart of Manhattan’s vibrant Plaza District, the 35-story, 745,000 square foot office tower is surrounded by Midtown’s corporate headquarters, fine dining establishments, and vast retail options. 575 Lexington Avenue boasts flexible layouts, airy spaces filled with light, on-site parking, a health club, and childcare. Transportation is easily accessible, with Grand Central Terminal a few short blocks away and three subway lines just around the corner.
About Angelo, Gordon & Co.
Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988. The firm currently manages approximately $28 billion with a primary focus on credit and real estate strategies. Angelo, Gordon has over 420 employees, including more than 160 investment professionals, and is headquartered in New York, with associated offices elsewhere in the US, Europe and Asia. For more information, visit www.angelogordon.com.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, NJ with offices in Boston, New York City and Washington, D.C. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments. Normandy’s existing portfolio includes 13.2 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, San Francisco, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.
About George Comfort & Sons
Founded in 1919, George Comfort & Sons specializes in acquisitions, asset and property management and brokerage, and offers full service leasing, construction and finance capabilities. It owns and operates a commercial real estate portfolio of approximately 10 million square feet nationwide. In addition to its New York headquarters, it has offices in Washington, DC, Purchase, NY and Stamford, Conn. For more information about George Comfort & Sons, Inc., please visit www.gcomfort.com
About Warshaw Burstein, LL
With practices deeply entrenched in many of the region’s industry sectors including real estate, manufacturing and financial services and reaching areas that touch personal lives such as matrimonial law, trusts and estates, and immigration, Warshaw Burstein offers a broad range of legal representation, including several niche practices not generally found in New York including Title IX and College Discipline, Hospitality and Construction. It represents a wide range of international, national and local businesses of all sizes, as well as financial institutions, governmental authorities and many prominent families and individuals, in an extensive array of corporate, securities and real estate transactions and litigation. More information about the firm is available at www.wbny.com