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Warshaw Burstein Commits to 40,000 SF in Planned Relocation to 575 Lexington

Law Firm Stepping into Larger Footprint in Summer 2019
August 7, 2018
New York City-based corporate law firm Warshaw Burstein LLP will relocate next summer to a larger space at 575 Lexington Ave., the 35-story Plaza District tower held by developers George Comfort & Sons, Angelo Gordon & Co. and Normandy Real Estate Partners.

Warshaw Burstein has signed on to take the entire seventh floor, spanning 40,383 square feet, in mid-2019.

Another legal services firm, Boies Schiller Flexner, remains on that floor until later this year. At that point, it will also vacate its space on the seventh, eighth and 12th floors. As the second-largest tenant in the building, Boies Schiller Flexner will leave a hole of about 106,000 square feet when it exits.

CoStar data shows Warshaw Burstein currently occupying about 33,000 square feet at 555 Fifth Ave., a 20-story office tower nearby Grand Central Station. It first moved into that building in 1990.

"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.

In June, George Comfort & Sons, Angelo Gordon & Co. and Normandy Real Estate Partners closed a $415 million refinance on 575 Lexington, which they have been renovating since 2017. Roughly $25.9 million has already been invested into a full renovation of the lobby, entrance, elevators and mechanical systems, and another $26.2 million in capital improvements is currently underway.

A mix of personal services companies and financial and legal firms dominate the property’s rent roll. It is anchored by Weill Cornell Medical College, which occupies just over 156,600 square feet there. Other tenants in the building include Emerald Creek Capital, Murray Analytics, Pirozzi & Hillman and The Lively Group.

Warshaw Burstein is the latest law firm to look down the line in snagging a long-term commitment for new office space. Global law firm Latham & Watkins in April committed to 407,000 square feet at 1271 Avenue of the Americas and will relocate in 2020. Greenberg Taurig and McDermott Will & Emery have each signed long-term leases for space at SL Green’s One Vanderbilt Avenue, which is not targeted to open until 2020.

  For the Record: A Newmark Knight Frank team of Kyle Ciminelli, David Falk, Ben Shapiro and Michael Shenfeld represented 575 Lexington’s landlords, while Cushman & Wakefield’s Michael Burgio represented Warshaw Burstein.

Diana Bell, New York City Market Reporter  CoStar Group   
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