Savills Studley announced that Gallo Vitucci Klar LLP (GVK) has signed a long-term lease for 12,000 s/f at 90 Broad Street for its New York offices.
The civil litigation defense firm currently occupies 19,000 s/f across the third floor in the building. It will restructure its current lease to occupy a portion of the 12th floor while relocating a portion of its operations to 100 Crossways Park Drive West, Woodbury, New York in Long Island. Asking rents were $48 per square foot.
Savills Studley executive managing director Marc Shapses, senior managing director Roi Shleifer and managing director Oliver Petrovic represented the tenant. The landlord, Princeton International, was represented by Scott Cahaly of JLL. Doug Furer of Mariner Real Estate Services, co-brokered the Long Island transaction alongside Savills.
According to Shapses, the law firm began evaluating its real estate options early, which enabled the firm to evaluate several opportunities.
“By beginning the process early we were able to secure the future for GVK and be strategic about its space use and costs,” Shapses said.
GVK managing partner Howard Klarsaid the transaction “simultaneously allows us to continue our strong growth while also reducing our expense.”