600 Third Ave. Picture courtesy of L&L Holding Co.
Regulation agency Polsinelli has prolonged and expanded its lease at L&L Holding Co.’s 600 Third Ave. in New York Metropolis.
The agency signed a 10-year lease extension by 2036 on the 42-story skyscraper in Manhattan’s Midtown East neighborhood, whereas additionally increasing its footprint with the addition of 13,129 sq. toes on the thirty third ground.
Polsinelli’s sq. footage on the property now totals 52,516 sq. toes, comprising the whole thing of the thirty third, fortieth, forty first and forty second flooring.
The 575,254-square-foot workplace tower, which was in-built 1970, was acquired by L&L in 2004. The corporate owns the constructing in partnership with BlackRock Actual Property Belongings.
L&L Government Vice President David Berkey represented the agency in-house on the lease renewal, whereas Kevin McLennan, Ian Murphy and Silvio Petriello of CBRE represented Polsinelli.
A sequence of renovations on the property lately has included constructing system enhancements, upgrades to the foyer and improved public areas. In 2018, following the enhancements, L&L and BlackRock secured a $175 million financing from Capital One that went towards paying down debt.
The legislation agency is the most important tenant on the constructing, which is 94 p.c leased. Other than Polsinelli, which has been on the location since 2015, occupants embody legislation agency Aaronson Rappaport, Austria’s everlasting mission to the United Nations, and funding supervisor 3G Capital.
L&L, which is an energetic participant within the New York actual property world, additionally personal 425 Park Ave. and 390 Madison Ave.
