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Deals & Dealmakers

Law firm Greenspoon Marder subleases 25,000 s/f at 590 Madison

Savills Studley has arranged a seven-year, 25,000 s/f sublease for national full-service law firm Greenspoon Marder at 590 Madison Avenue, a trophy building in the Plaza District at 57th Street.

The move is one of the law firm’s major forays in 2017 within the New York City market.

Greenspoon Marder’s new office space encompasses the entire 18th floor of the building. The sublease commences in the first quarter of 2017. It expects to relocate from its 18,000 s/f space at 1270 Avenue of the Americas in March.

The firm’s latest expansion comes during a period of steady and significant growth throughout the country. Last year, Greenspoon Marder acquired the lawyers and staff of Jacob, Medinger & Finnegan LLP, a boutique New York-based firm.

The company joined the ranks of Am Law 200 law firms in 2015 and was identified by the American Lawyer in 2016 as one of the fastest growing in the U.S.

Following an extensive search of the entire market, the Savills Studley team secured a fully built-out, furnished turn-key law firm space for the tenant, according to Jeffrey Peck, executive managing director at Savills Studley, who represented the tenant along with Daniel Horowitz, Thomas Capocefalo and Adam King.

As a result, the full floor fit Greenspoon’s needs “perfectly,” Peck said.

The new sublease continues the longstanding relationship between Greenspoon Marder and Savills Studley. The firm has represented Greenspoon Marder in its real estate decisions across the country, including its 65,000 s/f lease in downtown Fort Lauderdale, Miami, Las Vegas and Denver, among others.

“Our firm is committed to meet the ongoing needs of our clients.  Expanding our capabilities and breadth of practice in the New York market is key to our financial services clients and beyond,” commented Gerald Greenspoon, co-managing director and co-founder of Greenspoon Marder.

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