New York, New York - McLaughlin & Stern, LLP, announced today that it had extended and significantly increased its commitment at 260 Madison Avenue, a Sapir Organization building. The Firm added two full floors totaling 36,000 square feet, and now encompasses 100,000 square feet in the top eight floors of the midtown tower. The new lease is through 2021.
Established in 1898, McLaughlin & Stern, LLP is one of the oldest law firms in New York. Through its offices in New York City, Millbrook, NY and West Palm Beach, the firm provides a diverse range of legal services with expertise in investment advisory and hedge fund matters; private equity matters; sophisticated commercial, securities and estate litigations; corporate and securities transactions; real estate; intellectual property; and trusts and estates.
Speaking from the Firm's New York headquarters the Managing Partner, Geoffry R. Handler said: "The growth of our practice in many areas has moved us to expand our footprint in New York, and we have now made provision for further growth into the next decade. Our expansion in New York comes on the heels of a similar expansion in our West Palm Beach office."
"McLaughlin & Stern, LLP is a strong tenant with an excellent reputation. Its long term lease continues to strengthen the midtown market," stated Lorenzo Delillo, Senior Associate General Counsel of The Sapir Organization.
David Sweet, a partner in the Firm's real estate department, represented McLaughlin & Stern. The landlord, The Sapir Organization, was represented by in-house counsel Lorenzo Delillo. Howard Grufferman, of Grubb-Ellis, represented the Firm as its real estate advisor.
260 Madison Avenue, a 552,317 square foot office tower, is ideally located between Midtown and Midtown South on Madison Avenue between 38th and 39th Street. This 22-story office building is just a few blocks away from Grand Central Station giving quick access to all major subway lines.
Office tenants have easy entry to ground level retailers within the building and across the street. In addition to McLaughlin & Stern, other major tenants include Met-Life, Plaza Construction, Hanesbrands, Reader's Digest and American Kennel Club.
About The Sapir Organization
The Sapir Organization is a privately held, New York-based real estate holding and development firm with over 7 million square feet of prime Manhattan commercial and residential space. Founded by Chairman Tamir Sapir, the company has embarked on new residential and multi-use projects under the leadership of its President Alex Sapir and Vice President Zina Sapir-Rosen. The Sapir Organization owns significant architectural landmarks throughout Manhattan including, 2 Broadway, 260 Madison Avenue, 261 Madison Avenue, 384 Fifth Avenue, and two residential buildings, 50 Murray Street and 53 Park Place. Sapir currently has projects in excess of $2 billion. www.sapir.com