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Loeb & Loeb LLP handled seven of Manhattan's 34 largest office leases (based on square footage) in the first half of 2017, according to a report published in Crain's New York Business based on data provided by CoStar Group. These seven deals alone represent more than 2 million square feet leased during the first six months of 2017.
“Manhattan's office leasing market has seen considerable growth since the beginning of the year, particularly among digital media and technology oriented companies,” said Raymond A. Sanseverino, Chair of Loeb & Loeb's Real Estate Department. “Our team of seasoned commercial real estate leasing attorneys was extremely active on behalf of both landlords and tenants at many of the city's premier office addresses, combining our industry knowledge and extensive experience to quickly and efficiently help our clients seize the right opportunities.”
As detailed in the Crain's report, highlights of Loeb & Loeb's top Manhattan lease transactions in the first half of 2017, with their respective rankings, include:
Rank #1
Loeb & Loeb represented Ivanhoé Cambridge and its partner Callahan Capital Properties, as landlord, in a lease of 793,687 square feet of office space to 21st Century Fox, extending its existing lease through 2025 and expanding its space by nearly 130,000 square feet across three floors.
Rank #5
Also at 1211 Avenue of the Americas, Loeb & Loeb represented Ivanhoé Cambridge and its partner Callahan Capital Properties, as landlord, in a lease of 443,586 square feet of office space to News Corp. for its corporate headquarters through 2027.
Rank #10
The firm provided tenant’s counsel to the digital division of a leading financial services company in connection with its 15 year lease of more than 300,000 square feet of office space at 5 Manhattan West, located at 450 West 33rd Street in New York City. The lease expands the bank’s office space in the building from 125,000 square feet to 428,000 square feet.
Rank #13
Loeb & Loeb represented a global provider of risk management, insurance and reinsurance brokerage, as tenant, in connection with the lease of more than 200,000 square feet of office space at One Liberty Plaza in New York City.
Rank #14
As landlord’s counsel for RFR Realty, Loeb & Loeb negotiated a lease of 196,792 square feet of office space for fashion designer Tommy Hilfiger’s North American headquarters at 285 Madison Avenue in New York City.
Rank #24
Loeb & Loeb represented a real estate holding portfolio, as landlord, in connection with the lease in excess of 90,000 square feet of office space to a co-working firm at 205 Hudson Street in New York City’s TriBeCa neighborhood.
Rank #34
Loeb & Loeb represented Trinity REIT, Inc., as landlord, in connection with the lease of more than 60,000 square feet of office space to mail-order razor company Harry’s at One Hudson Square, located at 75 Varick Street in New York City’s Hudson Square neighborhood.
Loeb & Loeb's Real Estate Practice provides a broad range of sophisticated legal and counseling services to clients around the world who are buying, selling, investing in or leasing commercial, multifamily, office, industrial, hospitality and residential properties. The group represents a wide variety of clients in the real estate industry, including financial institutions acting as lenders, investors or credit enhancers; institutional, corporate, and individual buyers and sellers of real estate; developers; landlords; tenants; and mortgage bankers. The firm's Real Estate Practice and attorneys have earned rankings in legal directories such as Chambers USA, U.S. News & World Report - Best Lawyers "Best Law Firms" and The Legal 500 U.S.
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Chair, Real Estate