The real estate law firm Adler & Stachenfeld (A&S) will relocate its New York offices within Midtown. The practice, founded in 1997 by Bruce Stachenfeld and Terri Adler, has signed a lease for 40,000 square feet for the entire 12th floor of the building at 1301 Avenue of the Americas. This was announced by the tenants on Monday. The property is currently owned by a joint venture between Rithm Capital and DRA Advisors.
The exact rent and lease term remained undisclosed. According to a report by Colliers, the average asking price for office space in Midtown was $85.08 per square foot in the third quarter of 2026. A&S is currently located at 555 Madison Avenue; the precise relocation date to the Avenue of the Americas was not communicated.
Strategic Relocation and Specialisation
Terri Adler, Managing Partner at A&S, stated that the firm's lawyers work on complex real estate transactions daily. The new premises match the calibre of their clients and the deals they handle. Adler emphasised that A&S has earned an excellent reputation as a leading real estate law firm by combining in-depth industry knowledge with a forward-looking approach to the issues facing the commercial real estate sector.
Negotiations for the tenant were conducted by Andrew Sussman and David Hollander of CBRE. Who represented the landlord was not known. CBRE, Rithm, and DRA did not immediately respond to requests for comment. A&S specialises in New York tax incentives, Local Law 97, C-PACE, and ground lease financing. According to the firm, it handles
The Building at 1301 Avenue of the Americas
The owners recently made public that DRA acquired a 49 per cent stake in the 45-storey office tower on Sunday. Commercial Observer first reported on the deal, with the property valued at approximately $1.3 billion. Other tenants in the building at the corner of Avenue of the Americas and West 53rd Street include banks such as KeyBank, Piper Sandler, and Crédit Agricole, as well as the law firm O'Melveny & Myers.
