Accounting and advisory firm WithumSmith+Brown, PC, announced the expansion of its New York City operations with the addition of 25,000 s/f of Class-A office space at 1411 Broadway.
The audit, tax and advisory firm now occupies two floors and a total of 44,000 s/f at the 40-story, 1.1 million square foot Garment District office tower.
“Withum’s long-term lease expansion at 1411 Broadway accommodates our firm’s continuing growth in the New York City marketplace in terms of our client base, client service and employee talent,” said Michael Stallone, partner-in-charge of the firm’s Manhattan office.
“It also allows for future expansion of our service lines and practice areas, which ultimately results in strength in client service at the highest levels.”
Established in 1974, Withum has 15 offices, 900 staff members and annual revenue in excess of $170 million.
In addition to the New York City office, the firm has several offices throughout New Jersey including its Princeton headquarters; Florida; Philadelphia, PA; Boston, MA; Bethesda, MD; Aspen, CO; and Cayman Island.
The firm also is a member of HLB International, a worldwide network of independent professional accounting firms and business advisors committed to assisting clients build and expand globally.
Barry C. Lewen, Executive Managing Director, CBC Advisors represented Withum in the lease expansion. CBRE, Inc. presented the landlord.
Owned by Ivanhoe-Cambridge, 1411 Broadway, a 40-story Class A office tower occupying a full block in Midtown Manhattan.
Ivanhoé Cambridge and Callahan Capital Properties, along with their partner, The Swig Company, are in the throes of a $60 million capital improvement at 1411 Broadway that includes a full window replacement program, lobby renovation with new glass curtain wall, new plazas and landscaping along Broadway and 7th Avenue, renovated elevator cabs, a new retail storefront along Broadway and 40th Street, and numerous infrastructure upgrades.
Some 240,000 s/f in leasing deals have been closed since renovations got underway, bringing the building to over 97 percent leased.