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Laidlaw & Company Takes Nearly 21,000 SF at 521 Fifth Ave

UK Investment Banking Firm Chooses SL Green-Owned Asset as New HQ
December 12, 2017
Laidlaw & Company, a London-based investment banking firm, will move its headquarters to 521 Fifth Ave. in New York City during the second quarter of 2018. The financial brokerage services company has signed a 10-year lease for 20,987 square feet on the 12th floor of the 39-story Midtown East office tower located at 43rd Street.

The move is a mere two blocks south for Laidlaw & Company, which currently resides on the fifth floor of 546 Fifth Ave., at the corner of 45th Street.

SL Green's 521 Fifth Ave. office tower was originally constructed in 1929 and repositioned by the current owner in 2007 via a $25 million capital improvement program. Of the 490,710-square-foot building, there is 43,212 square feet available to lease. The property's rent roll is dominated by financial and business service, real estate and law firms, including ChinaTrust Commercial Bank Ltd., AJILON, Putney Twombly Hall & Hirson LLP and Berkadia Real Estate Advisors. Urban Outfitters and Equinox occupy retail space in the building.

"Fifth Avenue continues to be a premier business address, and buildings like 521 Fifth Avenue, which are centrally located, convenient to mass transit and have the benefit of institutional ownership, will continue to outperform the market," said Steven Durels, executive vice president and director of leasing and real property at SL Green. The REIT holds interests in 118 Manhattan buildings encompassing 47.8 million square feet as of September 30, 2017.

Pierce Hance, Connor Daugstrup, Justin Royce, Tara Stacom and Barry Zeller of Cushman & Wakefield represented the landlord along with SL Green's Natasha Brown and David Kaufman. Jonathan Plotkin and Tim Pond with Colliers International represented Laidlaw & Company.

Diana Bell, New York City Market Reporter  CoStar Group   
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