Chadbourne Signs Twenty-Year Lease for New Headquarters in Midtown Manhattan
September 6, 2012
The international law firm of Chadbourne & Parke announced today that it has signed a lease for a new headquarters office in New York City in a prime Midtown location. The deal is the largest lease transaction by a law firm in Manhattan in 2012 and one of the largest leases in the Manhattan market this year.
The firm will begin moving operations to its new location at 1301 Sixth Avenue immediately and will complete its move once the demolition, redesign and build-out of its new offices are finished. The 20-year lease for more than 200,000 square feet includes two five-year options for renewal and expansion options on additional floors to allow for continued growth. Chadbourne is best known for major practices in renewable energy/project finance, corporate/M&A, tax, litigation and bankruptcy, among other practice areas, and for its focus on emerging markets.
"We intend to design and build an office for the future, leveraging some of the key drivers for our clients and our lawyers -- efficiency, flexibility and technology. We will create a state-of-the-art workspace for our clients, our lawyers and our staff," said Chadbourne Managing Partner Andrew Giaccia.
The firm's new space will be designed by Gensler, one of the world's leading architectural and design firms. Gensler has created innovative workplaces for 62 of the Global 100 companies and many of the most prominent U.S. and international law firms.
"We're delighted to have closed this complex transaction. The deal allows us to take substantial space under attractive terms in the former headquarters of Dewey & LeBoeuf. 1301 Sixth Avenue is a premier office building in a prime location," said Mr. Giaccia.
Chadbourne has led its national and international practice from its principal office in New York City since 1902, and the New York office is the largest of its 12 offices around the world. Consistent with its emerging markets strategy, the firm has opened offices in São Paulo and Istanbul in the past two years.
The Chadbourne team that conducted the search for a new headquarters location and negotiated the lease was led by partner Richard Sonkin, head of the firm's Real Estate Committee. Chadbourne was represented by Newmark Grubb Knight Frank.