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Article: Downtown contract for big law firm; Sullivan & Cromwell expands to Water St.; phone seller makes NY connection.(Real Estate)
- Article from:
- Crain's New York Business
- Article date:
- January 8, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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One of New York City's largest law firms has expanded its offices in lower Manhattan. Sullivan & Cromwell, which handled nearly $763 billion worth of merger and acquisition deals in 2006, has signed a 20-year lease for 67,000 square feet, or the entire 51st floor, at 55 Water St. The asking rent at the building, between Old Slip and Broad Street, is $50 a square foot.
Sullivan & Cromwell's headquarters is one block away at 125 Broad St., between Water and South streets, where the firm owns over 500,000 square feet--including two and a half floors of expansion space.
"We have space to expand here, but we loved the large floorplates at 55 Water St., and ...
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