The law firm Thompson, which specialises in mergers and acquisitions, tax matters and intellectual property issues, is relocating its New York offices. As the Commercial Observer has learned, it will henceforth be situated at 622 Third Avenue, a property owned by Cohen Brothers. This move marks a strategic step for the firm, which is focusing on the Midtown East market.
The boutique firm has signed a five-year lease for a 4,000 square foot space on the 16th floor of the 40-storey office tower in Midtown East. The building is also known as Grand Central Plaza. Thompson will occupy the new premises, which differ from its current location at 75 Broad Street in the Financial District, in the autumn.
Lease Terms and Parties Involved
The asking rent for the space was $75 per square foot. The transaction was facilitated by Jeffrey Zund and Michael Adler of Resolution Real Estate, who represented Thompson. Cohen Brothers were represented internally by Marc Horowitz. All parties involved were unavailable for immediate comment regarding the details of the agreement.
The Building: 622 Third Avenue
622 Third Avenue, a structure by Emery Roth & Sons, is located between East 40th and East 41st Street. The building underwent extensive renovations in the early 2010s, which included an investment of $5 million. This modernisation contributed to enhancing the appeal of the location and making it attractive to tenants such as Thompson.
Other tenants at 622 Third Avenue include the staffing company TemPositions, industrial outdoor storage provider Zenith IOS, and commercial real estate finance and advisory services firm Cooper-Horowitz. The diverse tenant structure underscores the attractiveness of the location as a central address in Midtown East.
- —Building: 622 Third Avenue (Grand Central Plaza)
- —Tenant: Thompson Law Firm
- —Leased area: 4,000 square feet
- —Rent (initial): $75 per square foot
