Investment Management Law Firm to Occupy Entire 17th Floor at the 32-story, 425,000 SF Office Building in Midtown East
The Rudin Family announced today that it has finalized a 10-year leasing transaction with law firm Florio Leahy LLP at 641 Lexington Avenue, a 32-story, 425,000 square-foot office building in Midtown East.
Florio Leahy, which specializes in investment management law, will occupy a 6,691 square-foot pre-built office suite on the entire 17th floor. The firm plans to relocate from its current location at 370 Lexington Avenue to 641 Lexington Avenue around the first quarter of 2021.
“We’re proud that Florio Leahy has chosen 641 Lexington as its new headquarters,” said Michael Rudin, Senior Vice President at Rudin Management Company, the operating arm of Rudin Family holdings. “In spite of the challenging market conditions, this transaction demonstrates that major companies and professional service firms remain committed to New York City and Midtown for the long term.”
“We are very excited that we have secured the entire 17th floor of 641 Lexington for Florio Leahy’s new headquarters,” said Greg Florio, co-managing partner at Florio Leahy. “It has long been our desire to move into 641 Lexington as it is one of New York's premier buildings and has a convenient location for our employees and investment management clients. Rudin Management and our agents at Noah & Co. were true professionals and pleasures to work with. We are committed to New York City, which will always be the financial capital of the world, and we believe that 641 Lexington will serve as an excellent launching pad for Florio Leahy’s projected growth and success.”
Florio Leahy LLP was represented by Benjamin Blumenthal of Noah & Co. Building ownership was represented by Robert Steinman, Senior Vice President at Rudin Management Company. Asking rents were $65 per square foot.
Located on the northeast corner of Lexington Avenue at 54th Street, 641 Lexington Avenue holds significant importance in the history of the Rudin Family. In 1905, Louis Rudinsky purchased a five-story brownstone on the site, which was his first real estate acquisition in New York City after immigrating to the United States from Belarus. Through the years, Louis’ son, Samuel, bought several properties adjacent to the original purchase. In the mid-1960s, Samuel and his sons, Jack and Lewis, developed a modern office tower on the land.
Today, 641 Lexington Avenue has received WiredScore Platinum certification in recognition of its best-in-class connectivity and features Nantum OS, the world’s most advanced building operating system. Nantum OS is the flagship product of Prescriptive Data, a privately-held, smart building automation company focused on using artificial intelligence to optimize tenant comfort and decrease carbon emissions. Nantum OS automatically adjusts building management systems based on real-time occupancy and building data, ensuring the highest levels of indoor air quality and allowing building engineers to focus on energy management and carbon emissions reduction.
Florio Leahy LLP will join a prominent tenant roster at 641 Lexington Avenue that includes the State of New York Mortgage Association (SONYMA), Memorial Sloan-Kettering Counseling Center, Peerless Clothing International, and the Development Corporation of Israel.
About The Rudin Family
Rudin Management Company is a full service real estate organization managing the interests of the Rudin Family, which owns and operates one of the largest privately held real estate portfolios in New York City. Among its real estate holdings, which includes the high-tech Dock 72 office tower at Brooklyn Navy Yard, are 16 commercial office buildings containing approximately 10.5 million square feet of space and 18 apartment buildings comprising over four million square feet of residences. For more information about Rudin Management Company, please visit https://www.rudin.com/.
