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Another Manhattan Law Firm Prepares to Move After Adding Attorneys

Schwartz Sladkus Reich Greenberg Atlas Signs for 33,000 SF at 444 Madison
August 10, 2018
A Manhattan law firm is growing, and relocating. New York-based Schwartz Sladkus Reich Greenberg Atlas LLP (SSRGA), with practice areas including healthcare and real estate litigation, has signed a lease for 33,115 square of office space at 444 Madison Ave. in New York City.

The 12-year lease covers a portion of the fifth floor and the entire sixth floor, but SSRGA is not planning to move until early 2019. Until then, it remains in the Grand Central area at 270 Madison Ave., where CoStar research shows it occupying 14,530 square feet.

The law firm has added 11 attorneys in the past three years, necessitating more space, according to Jeffrey M. Schwartz, a partner in the real estate practice and one of the firm’s founding members.

Steven D. Sladkus, another founding member and partner in the real estate and litigation practices, said that the firm looks forward to creating "from ground-up, our vision for a new home for SSRGA and a vastly improved working environment for the entire SSRGA team."

Law firms are signing leases for larger blocks of space in Manhattan compared to last year, according to CoStar Market Analytics. About 1.4 million square feet of space has been leased by 30 law firm tenants so far this year, compared to 1.15 million square feet by 96 tenants in the same period last year.

An Art Deco building constructed in 1931, 444 Madison Ave. stands about 10 blocks north of where SSRGA currently operates. The 42-story tower spans 490,000 square feet of 4-Star office space, with roughly 26,000 square feet currently available for lease. The building's largest tenant, Burberry, occupies nearly 70,000 square feet of office space. A majority of its tenants are in the financial sector, including FTN Financial, Lincoln International and Lampert Capital Markets.

  For the Record: Jones Lang LaSalle’s Harley Dalton, David Dusek and Mitchell Konsker acted on behalf of SSRGA in lease negotiations. Meghan Allen, Paul Amrich and Patrice Meagher with CBRE represented the landlord.

Diana Bell, New York City Market Reporter  CoStar Group   
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