International law firm Alston & Bird has signed a major deal to relocate its offices from Park Avenue. Alston & Bird, which provides legal counsel to Fortune 100 companies and private institutions, signed a 15-year, 169,664-square-foot lease at Harbor Group International’s 51 West 52nd Street, with plans to move its operations from 90 Park Avenue, […]
International law firm Alston & Bird has signed a major deal to relocate its offices from Park Avenue.
Alston & Bird, which provides legal counsel to Fortune 100 companies and private institutions, signed a 15-year, 169,664-square-foot lease at Harbor Group International’s 51 West 52nd Street, with plans to move its operations from 90 Park Avenue, according to landlord broker Newmark.
Newmark did not disclose the asking rent for the building, also known as 51W52, but the average office asking rent in Midtown was $86.55 per square foot in May, according to a report from CBRE.
“51W52 is now fully leased to a roster of prominent tenants, all of whom match the building’s prestige,” Jordan Slone, chairman and CEO of Harbor Group International, said in a statement. “The success of 51W52 validates our strong faith in the resilience of the New York office market, especially for the best trophy properties in the best locations.”
Newmark’s Howard Hersch, Greg Conen, Scott Klau, Erik Harris, Jennifer Schreiber and Zach Weil negotiated on behalf of the landlord, while Brad Wolk, Matthew Barlow, David Goldstein, Joe Learner, Matthew Brainard and Laura Whelan of Savills represented the tenant.
Savills did not immediately respond to a request for comment.
Recent deals in the ominous 38-story tower include Kroll Bond Rating Agency taking 121,000 square feet in January and law firm Orrick, Herrington & Sutcliffe renewing its 144,312-square-foot lease in July 2024.
Mark Hallum can be reached at mhallum@commercialobserver.com.
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