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Deals & Dealmakers

Title company signs two Manhattan office deals

Lee NYC announced that Stewart Title Insurance Company has signed two new leases to expand its Manhattan office space.

Kenneth Salzman, principal of Lee NYC, and Robert LaCoure, Principal, of Lee Houston, negotiated two 10-year leases for 5,267 and 16,350 s/fof space at 60 East 42nd Street and 140 East 45th Street, respectively, for the offices of Stewart Title Insurance Company.

These new leases will allow Stewart’s current regional offices of Agency Services, Commercial Services and Direct Operations to be relocated from 300 East 42nd Street and 825 Third Avenue as part of their strategic relocation and growth strategy in the New York area.

“The Lee team negotiated two transactions that met Stewart Title’s diverse requirements and lease-up strategy to meet the company’s growing needs,” explains Mr. Salzman, who represented the tenant with Mr. LaCoure. “The space will allow them to implement new workforce standards and provide dedicated areas for both their sales and legal compliance departments.”

The landlord of One Grand Central Place, Empire State Realty Trust, was represented in-house by Julie Christiano. The landlord of Two Grand Central Tower, Rockwood Capital, was represented by Neil King of CBRE.

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