{"id":33998,"date":"2022-07-28T09:51:36","date_gmt":"2022-07-28T06:51:36","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=33998"},"modified":"2025-03-25T16:09:14","modified_gmt":"2025-03-25T13:09:14","slug":"kaufman-borgeest-lease-875-third","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/kaufman-borgeest-lease-875-third\/","title":{"rendered":"Kaufman Borgeest & Ryan Signs New Lease Deal for Midtown Office"},"content":{"rendered":"

Law firm\u00a0Kaufman Borgeest & Ryan\u00a0recently closed a 15-year lease deal at Global Holding\u2019s 875 Third Ave. The company will occupy 27,000 square feet of prime Manhattan office space<\/a> located between East 52nd and East 53rd streets, marking a significant downsizing from its current 48,000-square-foot lease at\u00a0Silverstein Properties\u2019 120 Broadway.<\/strong> The move reflects a wider trend of companies adjusting their office space needs to accommodate employees\u2019 preferences for flexible work schedules.<\/p>\n

Asking rents were between $69 and $75 per square foot<\/a>. The new tenant is scheduled to move in by March 2023 and will occupy the entire fifth floor of the building. The 29-story tower features a diverse tenant roster: It includes the likes of retailers I Tavolo, Starbucks, and Dunkin and is set to house Chopt in the renovated lobby. Currently, KUR Skin Lab, massage salon A\u2019s Body Works and skin care treatment provider Janet Sartin also reside in the building.<\/p>\n

JLL\u2019s Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter represented the landlord, while Barry Lewen of Cresa and Howard Greenberg of Howard Properties negotiated on behalf of Kaufman Borgeest & Ryan.<\/p>\n

\u201cWith over 600 linear feet of windows, 875 Third\u2019s floor plates provide a uniquely efficient envelope for law firms,\u201d Glickman said in a statement. \u201cAlong with the first-class amenities, transportation and ownership, the building offers an extremely attractive package for today\u2019s tenants.\u201d<\/p>\n

Completed in 1982, the 700,000-square-foot tower was designed by Skidmore, Owings & Merrill as a 14-sided structure. Its long axis is also positioned at a 45-degree angle toward the avenue. Notably, the building was part of Madison Equities portfolio until 1998, when it was acquired by Boston Properties, which went on to renovate the property and resell it to its current owner by 2003. The building was then renovated once again in 2014 by Global Holdings.<\/p>\n

Looking for your ideal Manhattan office space? With CommercialCafe.com<\/a> you can get access to top-tier listings across all major U.S. markets, including:<\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Office space in Manhattan<\/a><\/td>Office space in Los Angeles<\/a><\/td>\n<\/tr>\n
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Office space in Charlotte<\/a><\/td>Office space in Las Vegas<\/a><\/td>\n<\/tr>\n
Office space in Boston<\/a><\/td>Office space in Denver<\/a><\/td>\n<\/tr>\n
Office space in Atlanta<\/a><\/td>Office space in Washington, D.C.<\/a><\/td>\n<\/tr>\n
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Office space in Phoenix<\/a><\/td>Office space in San Diego<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"

Law firm\u00a0Kaufman Borgeest & Ryan\u00a0recently closed a 15-year lease deal at Global Holding\u2019s 875 Third Ave. The company will occupy 27,000 square feet of prime Manhattan office space located between East 52nd and East 53rd streets, marking a significant downsizing from its current 48,000-square-foot lease at\u00a0Silverstein Properties\u2019 120 Broadway. The move reflects a wider trend of companies adjusting their office space needs to accommodate employees\u2019 preferences for flexible work schedules.<\/p>\n","protected":false},"author":56,"featured_media":34000,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-33998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nKaufman Borgeest Lease 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