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Quinn Emanuel Urquhart & Sullivan to Anchor Revitalized Landmark

| Commercial Real Estate News, Deals, Featured, Leasing, Office| Views: 0

Quinn Emanuel Urquhart & Sullivan has opened its new headquarters in the renovated Textile Building at 295 Fifth Ave. in Midtown South. The global litigation firm is the first tenant in this landmark building, leasing 132,000 square feet of space.

Previously associated with the city’s garment industry, the Textile Building has undergone an impressive transformation led by Tribeca Investment Group (TIG), PGIM Real Estate and Meadow Partners. Spanning 700,000 square feet, the building now offers a modern office space with elegant features, including a panoramic-view penthouse, a revitalized courtyard, terraces and various amenities.

Quinn Emanuel Urquhart & Sullivan’s new offices occupy the eighth through 11th floors of the 19-story building, providing ample space for their growing team. Jennifer Barrett, co-managing partner of Quinn Emanuel’s New York office, expects the firm to occupy all three floors by the end of next year. With more than 1,000 lawyers, Quinn Emanuel Urquhart & Sullivan is one of the largest litigation firms in the country. Its previous headquarters, just a few blocks away, was of a similar size.

Rental rates at the Textile Building range from $95 per square foot for the lower levels to $135 per square foot for the penthouse. CBRE’s Mary Ann Tighe and David Hollander represented the landlord, while Lewis Miller and Cara Chayet from CBRE represented the tenant.

Tighe noted that Quinn Emanuel Urquhart & Sullivan’s relocation aligned with the trend of traditional industries like law firms favoring Midtown South as technology firms have reduced their leasing footprints in recent years.

Tribeca Investment Group, PGIM Real Estate and Meadow Partners — who announced the deal on Monday — stated that Quinn’s move to 295 Fifth Ave. was the largest Midtown South relocation of 2023.

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