The rolling-thunder procession of late-in-the-year commercial leases that we predicted a few weeks ago, is under way in earnest.
In the largest Midtown South location of 2023, global litigation firm Quinn Emanuel & Sullivan signed for 132,000 square feet at 295 Fifth Ave.
The law firm will move from 51 Madison Ave. where it had roughly the same amount of space.
Known as the Textile Building for its one-time apparel-making role, 295 Fifth Ave. fills the entire east blockfront between West 30th and 31st streets.
Owners Tribeca Investment Group (TIG), PGIM Real Estate and Meadow Partners spent $350 million to redevelop the century-old, 700,000 square-foot property for 21st Century use. Quinn Emanuel is the first tenant to sign up since the repositioning.
The remake overseen by Studios Architecture includes a new, two-story penthouse, a first floor courtyard, several terraces and hospitality-focused amenities.
Realty Check reported earlier that asking rents would run from $95 a square foot at the base to $135 psf in the penthouse.
The Textile Building fills the entire east blockfront between West 30th and 31st streets.
Google Concord Global
The law firm will have floors 8-10 in what’s now a 19-story building.
TIG principal Elliott Ingerman called 295 Fifth “a special asset “positioned for long-term success.” Quinn Emanuel New York managing partners Andrew Rossman and Jennifer Barrett termed it in a statement “a stunning redevelopment of a historic building in the flourishing Nomad nabe that has long been our professional home.”
The firm has over 300 lawyers in the city.
Mary Ann Tighe, part of the landlords’ CBRE leasing team, said the deal “affirms a larger trend in Midtown South. As technology firms dialed back their leasing, the gap’s being filled by traditional industries that realize upgraded buildings bolster their initiatives to attract and retain talent.”
Rendering of the building’s entrance.
Google/Concord Global
CBRE’s Lewis Miller, Greg Maurer-Hollaender and Cara Chayet repped the tenant. The CBRE landlord team included Tighe, David Hollander and Peter Turchin.
The deal comes only days since we reported that Spanish financial firm BBVA took 75,000 square feet at Two Manhattan West, nearly doubling its previous presence on Sixth Avenue.
News Related
-
TAIPEI – A five-month rally in MediaTek looks set to extend as booming demand for smartphones and a promising new AI chip brighten the company’s outlook. The Taiwanese tech firm’s stock has soared almost 40 per cent since the end of June, outperforming a 2 per cent advance in the ...
See Details:
AI chip boom fuels MediaTek’s 40% rally, beating Qualcomm and peers
-
-
SINGAPORE – The Chinese Swimming Club (CSC) has secured a 30-year lease renewal for its sports complex at Amber Road. The move comes after four years of negotiations with the authorities, and was fully funded by the club’s reserves, CSC said on Monday. The announcement comes a week after news ...
See Details:
Chinese Swimming Club renews lease of Amber Road site for another 30 years
-
SEATTLE – US shoppers will spend as much as US$12.4 billion (S$16.6 billion) online during Cyber Monday (Nov 27), according to Adobe, which adjusted its initial forecast of US$12 billion upward based on stronger-than-expected spending on Black Friday (Nov 24) and the popularity of buy-now-pay-later features that let shoppers stretch ...
See Details:
Cyber Monday forecast boosted after record online holiday sales
-
Philanthropy can be a source of catalytic and patient capital, and as such, can play a big role in the net zero transition. Blended finance is an avenue where philanthropists can join forces with public and private funds. Genevieve Cua speaks to Anthony Gao, head of philanthropy services Asia with ...
See Details:
WealthBT Podcast: Powering up philanthropy for climate goals
-
NEW YORK – Wall Street stocks ticked down Monday, coming off a fourth straight week of gains, as investors eye retail spending and other upcoming economic data. The Dow Jones Industrial Average slipped 0.2 per cent to 35,333.47. The broad-based S&P 500 dipped 0.2 per cent to 4,550.43, while the ...
See Details:
US stocks pull back after weeks of gains
-
NEW YORK – Binance Holdings former chief executive officer Zhao Changpeng can’t return to his home in the United Arab Emirates for now, a federal judge in Seattle ruled. US District Judge Richard Jones on Monday put on hold a ruling granting the billionaire’s request to return to the UAE ...
See Details:
Former Binance CEO Zhao Changpeng must stay in US for now, judge says
-
-
-
-
Sports Illustrated scrubbed its site of AI-generated content that included bylines and photos for authors that don’t exist, according to a report.The publication — once home to authors like John Updike, Hunter Thompson and Frank DeFord – used artificial intelligence to produce poorly written product reviews and posted them under ...
See Details:
New York's cannabis board votes to settle lawsuits that have stalled legal dispensaries
-
-
Sports Illustrated scrubbed its site of AI-generated content that included bylines and photos for authors that don’t exist, according to a report.The publication — once home to authors like John Updike, Hunter Thompson and Frank DeFord – used artificial intelligence to produce poorly written product reviews and posted them under ...
See Details:
Cyber Monday sales set to reach $12.4 billion thanks to deal-hunters
-
Sports Illustrated scrubbed its site of AI-generated content that included bylines and photos for authors that don’t exist, according to a report.The publication — once home to authors like John Updike, Hunter Thompson and Frank DeFord – used artificial intelligence to produce poorly written product reviews and posted them under ...
See Details:
Texas' new power grid problem
OTHER NEWS
A Shein Group Ltd. pop-up store inside a Forever-21 store in the Times Square neighborhood of New York, US, on Friday, Nov. 10, 2023. Yuki Iwamura | Bloomberg | Getty Images ...
Read more »
EU regulators say Amazon's acquisition of vacuum maker iRobot may harm competition European regulators say Amazon’s proposed acquisition of robot vacuum maker iRobot may harm competition ByHALELUYA HADERO AP business ...
Read more »
Argentina's right-wing president-elect to meet with a top Biden adviser Argentine President-elect Javier Milei is getting a meeting with a top Biden aide ByAAMER MADHANI Associated Press and DANIEL POLITI ...
Read more »
Texas CEO and his 2 children were among 4 killed in wreck before Thanksgiving The CEO of a construction company and his two young children were among four people killed ...
Read more »
How major US stock indexes fared Monday, 11/27/2023 Stocks edged lower on Wall Street as markets look ahead to updates on inflation and how American consumers are feeling about the ...
Read more »
Moderna has hired a former FBI agent to compile internal company reports about “high-risk” celebrities — including tennis star Novak Djokovic, tech mogul Elon Musk and actor Russell Brand — ...
Read more »
Meta CEO Mark Zuckerberg and other top brass at the social media giant were well aware that millions of users on Instagram are underage, according to newly released claims in ...
Read more »