The Sapir Organization has announced the signing of a 12-year, 112,000 s/f lease renewal with law firm McLaughlin & Stern, LLP, at 260 Madison Avenue.
Additionally, the owner will carry out an in-depth renovation of the firm’s headquarters on floors 15-22 to deliver a state of the art office environment in line with modern expectations, while also respecting the history of this 122-year-old legal practice. Sapir is working with its affiliate SFM Construction LLC to carry out the improvements while allowing the tenant to maintain its day to day business operations in the space. Renovations will begin immediately and include upgrades to offices, common areas, conference rooms and bathrooms, as well as new elevator landings, a complete lighting overhaul and new terraces. Sapir Chief Operating Officer Husein Sonara and the Sapir team negotiated the renewal in-house, while Arthur Mirante and Mike Gottlieb of Avison Young represented McLaughlin & Stern. With the lease renewal, the 550,000 s/f 260 Madison is fully leased.
“Our tenants range from deeply established companies to up and coming creative firms, but each one knows that it can count on us to find creative, turnkey solutions to deliver the world-class space they need,” said Husein Sonara, chief operating officer of the Sapir Organization. “Our team was proud to work with McLaughlin & Stern to craft a plan for its headquarters that was not only built to suit – but that allowed the firm to continue its day to day work in place. We consider it as a core responsibility to provide exactly that sort of end to end solution throughout our portfolio.”
McLaughlin & Stern, LLP, a law firm with more than 100 attorneys, moved into 260 Madison in 1996.
260 Madison was purchased by Sapir in 1997 along with its sister property 261 Madison. Both buildings, located a few blocks from Grand Central Terminal, have recently undergone significant upgrades. 260 Madison is home to Hanes Brands and head-hunting firm Solomon Page, both occupying newly built-to-suit headquarters.
