Global law firm Latham & Watkins LLP has secured a significant 12-year lease for approximately 120,000 square feet across two full floors at RXR’s prestigious 1285 Avenue of the Americas. This strategic move represents an expansion of the firm’s New York City real estate footprint, extending beyond its current base at 1271 Avenue of the Americas, and is fueled by robust and anticipated continued growth.
Key Takeaways
- Latham & Watkins is expanding its New York City presence with a new 12-year lease at 1285 Avenue of the Americas.
- The deal involves approximately 120,000 square feet across two floors.
- This expansion is driven by the firm’s strong and projected future growth.
- The legal industry continues to demonstrate significant strength in the Manhattan office market, as evidenced by this and other recent deals.
Strategic Expansion Driven by Growth
The decision by Latham & Watkins to occupy space at 1285 Avenue of the Americas underscores the firm’s commitment to expanding its New York City operations. The new lease is a testament to the firm’s positive trajectory and its confidence in sustained future growth. This expansion allows the firm to enhance its presence in a prime Midtown Manhattan location.
A Strong Market Signal
This significant lease agreement follows closely on the heels of another major deal at the same building, where Ropes & Gray announced its relocation to 1285 Avenue of the Americas, committing to over 535,000 square feet starting in 2028. Both transactions highlight the enduring power and resilience of the legal sector within the competitive Manhattan office market. The influx of prominent law firms into prime locations like 1285 Avenue of the Americas signals a healthy demand for high-quality office space in the city.
A Premier Midtown Location
William Elder, EVP and managing director of RXR’s New York City division, expressed enthusiasm for the new tenancy. "1285 Avenue of the Americas is a trophy property, featuring best-in-class tenants in the heart of Midtown Manhattan," Elder stated. "We look forward to Latham & Watkins’ tenancy and welcoming future tenants of this caliber to the building." The building’s prime location and amenities are expected to support the operational needs and continued success of its high-profile tenants.
Brokerage Representation
Latham & Watkins was represented in the transaction by Scott Gamber, Craig Reicher, and Emily Chabrier of CBRE. RXR’s representation was handled in-house by William Elder and Daniel Birney.