Law firm Moses & Singer renewed its lease at the Chrysler Building, planning to remain in the iconic NYC tower for another 15 years. The deal also allows for the 73,485 square feet of Midtown Manhattan office space it currently occupies there to be modernized and redesigned.
The 1.3 million-square-foot, LEED Gold-certified skyscraper at 405 Lexington Avenue, better known as the Chrysler Building, is managed by Tishman Speyer. Since its completion in 1930, it has become one of the most recognizable landmarks on the Manhattan skyline. Moses & Singer inked a lease for the building’s 12th and 13th floors in 2005. Now, with two and a half years left on the old lease, the law firm renewed the deal, promising to stay for another 15 years.
A Colliers International team consisting of Michael Cohen, Robert Tunis, Eric Feriello and Jessica Verdi represented the tenant in the deal and will be the project manager on the redesign as well. The landlord was represented by a Tishman Speyer team.
Asking rent for the space was $65 per square foot, according to the New York Post. Other tenants in the building include Regus, law firm Clyde & Co and investment banking company Maxim Group.
“Our new lease provides stability and continuity for the firm, and it also enables us to make our space more efficient to accommodate future growth. The timing on this was perfect. We are excited to enter into our new lease on the eve of our centenary, and happy to have avoided the distraction and stress of a pending lease expiration,” said Alan Kolod, Chairman of Moses & Singer.