The Graybar Building
420 Lexington Avenue • New York, NY
A New Law Firm Signs its First Office Lease in a Building that is
Ready to Accommodate Future Plans for Expansion.
A new law firm was ready for their first office space. Given the importance of client accessibility, the partners were focused specifically on the Grand Central submarket. The biggest concern was outgrowing their space too quickly. Since the firms’ plans were for rapid growth, they didn’t want to be stuck in a lease where they would be forced to sublease their space at a discount.
They hired representation to explore their options. A survey of 44 million square feet of office space was conducted. This revealed there were only 2 landlords with 2 buildings that would accommodate their near term expansion plans with minimal business disruption. Spaces in each building were identified. Over 1 month, lease terms were negotiated and terms were agreed to on one space.
- Leverage from choices that enabled them to obtain the most favorable terms
- A brand new space built to suit their specifications
- Flexibility to grow with a landlord who has a large building to accommodate future growth
- Credibility from clients and their peers given their own separate space
“We could not have asked for a better advisor than you. Given this
was our first office lease I did not know what to expect in the process
from how long it would take to the associated costs. You took the time
to walk me through each of the steps with patience and made us feel
like you never had anywhere else to be but with us. There were plenty
of opportunities to feel overwhelmed but with your help it was all
manageable… We have found a place that Lipsky Lowe can call its own.
Not only is it great for client interaction but also for company morale. I
will be sure to recommend you to my colleagues at other law firms and
look forward to working with you for many years to come.”
Partner of Lipsky Lowe