Law firm McLaughlin & Stern will overhaul its Madison Avenue headquarters, and renew its lease for the 112,000-square-foot space.
The law firm signed a 12-year lease at Sapir Organization’s 260 Madison Avenue, located between East 38th and East 39th Street, according to information from Sapir. McLaughlin & Stern first moved into the building in 1996.
Sapir will manage the renovation of the space, which will include updates to the offices and landings, new terraces, and a new lighting system.
Sapir COO Husein Sonara negotiated the renewal in-house, while Arthur Mirante and Mike Gottlieb of Avison Young represented the tenant.
"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," Sonara said in a prepared statement.
Sapir has owned the 22-story building since 1997, along with the 28-story office tower across the street, at 261 Madison Avenue. Other tenants at the building include HanesBrands, head-hunting firm Solomon Page, brokerage Marcus & Millichap and movie studio MGM Epix.
Asking rents at the building were in the low to mid $60s, according to a source with knowledge of the deal. The building is now 100 percent leased, per Sapir.
McLaughlin & Stern, which was founded in the final years of the nineteenth century, has additional offices in the New York metro area, including Long Island and Westport, Connecticuts, as well as several offices in Florida.