The Sapir Organization announced the signing of a 12-year, 112,000s/f lease renewal with McLaughlin & Stern, LLP at 260 Madison Avenue.
Sapir will carry out a renovation of the firm’s headquarters on floors 15-22 to deliver a state of the art office environment, while also respecting the history of this 122-year-old legal practice.
Sapir is working with its affiliate SFM Construction LLC to carry out the improvements while allowing the tenant to maintain its day to day business operations in the space.
Renovations will begin immediately and include upgrades to offices, common areas, conference rooms and bathrooms, as well as new elevator landings, a complete lighting overhaul and new terraces.
Sapir Chief Operating Officer Husein Sonara and the Sapir team negotiated the renewal in-house, while Arthur Mirante and Mike Gottlieb of Avison Young represented McLaughlin & Stern. With the lease renewal, the 550,000 square foot 260 Madison is fully leased
"Our tenants range from deeply established companies to up and coming creative firms, but each one knows that it can count on us to find creative, turnkey solutions to deliver the world-class space they need," said Husein Sonara, Chief Operating Officer of the Sapir Organization.
"Our team was proud to work with McLaughlin & Stern to craft a plan for its headquarters that was not only built to suit — but that allowed the firm to continue its day to day work in place. We consider it as a core responsibility to provide exactly that sort of end to end solution throughout our portfolio."
"Having been in a Sapir Organization facility in midtown for over two decades, and having the Firm more than quadruple in size over that period, it was only natural for us to further extend our partnership with the Sapir Organization," said Geoffry R. Handler, Managing Partner at McLaughlin & Stern, LLP.
"We are positioned for further growth emanating from our New York City headquarters and flowing out to our Long Island, Florida, and Connecticut offices."
McLaughlin & Stern, LLP is a full-service law firm founded in 1898 with more than 100 attorneys representing a wide range of clients in a variety of forums both domestic and overseas. The firm moved into 260 Madison in 1996.
260 Madison was purchased by Sapir in 1997 along with its sister property 261 Madison. Both buildings have recently undergone significant upgrades and major leasing activity. 260 Madison is home to Hanes Brands and head-hunting firm Solomon Page, both occupying newly built-to-suit headquarters constructed by SFM Construction.
The building tenant roster also includes commercial real estate brokerage Marcus and Millichap and MGM Epix.
Just across the street, 261 Madison is home to restaurant Zuma, law firms and national banking companies including Signature Bank, flex office operator Knotel, as well as the Sapir Organization’s headquarters.
In September, Sapir signed a full-floor 14,000 square foot lease with Fortune 500 marketing firm RR Donnelley, and a full floor, 11,000 square foot lease with RoC Cosmetics in May. The majority of these spaces were either prebuilt or built-to-suit by Sapir.